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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD
Trade Setup

#GBPUSD
Total Profit: 13814 pip
Closed trade(s): 2987 pip Profit
Open trade(s): 10827 pip Profit

Trade Setup:
We opened 14 BUY trades @ 1.08845 based on 'Valley' entry method at 2022-09-28.

Closed Profit:
TP1 @ 1.10821 touched at 2022-09-29 with 197 pip Profit.
TP2 @ 1.12588 touched at 2022-10-03 with 374 pip Profit.
TP3 @ 1.14000 touched at 2022-10-04 with 515 pip Profit.
TP4 @ 1.17350 touched at 2022-11-11 with 850 pip Profit.
TP5 @ 1.19355 touched at 2022-11-15 with 1051 pip Profit.
197 + 374 + 515 + 850 + 1051 = 2987 pip

Open Profit:
Profit for one BUY trade is 1.20882(current price) - 1.08845(open price) = 1203 pip
9 trade(s) still open, therefore total profit for open trade(s) is 1203 x 9 = 10827 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 1.10821 is broken, we will close open trades.

DateNovember 26, 2022 - 09:11
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.10821, resumption of uptrend is expected.
  • We make sure when the resistance at 1.22795 breaks.
  • If the support at 1.10821 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.10821 is broken.

Technical analysis:

  • While the RSI support #1 at 38 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 1.17750 on 11/21/2022, so more gains maximum to Major Resistance (1.22795) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 65.

Take Profits:

  1. 1.10821
  2. 1.12588
  3. 1.14000
  4. 1.17350
  5. 1.19355
  6. 1.22795
  7. 1.26521
  8. 1.29757
  9. 1.31600
  10. 1.36420
  11. 1.42460
  12. 1.45650
  13. 1.48250
Click on the level to view price action history.

Symbol Released Current Forecast
British Pound / US Dollar (GBPUSD) free Sat, 28 Jan 2023
British Pound / US Dollar (GBPUSD) Sun, 22 Jan 2023
British Pound / US Dollar (GBPUSD) free Sat, 14 Jan 2023
British Pound / US Dollar (GBPUSD) free Sat, 7 Jan 2023
British Pound / US Dollar (GBPUSD) Sat, 31 Dec 2022