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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

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Trade Setup

#GBPUSD
Total Profit: 6526 pip
Closed trade(s): 1207 pip Profit
Open trade(s): 5319 pip Profit
_______________________________________________
Trade Setup:
We opened 13 BUY trade(s) @ 1.2507 (day close price) based on 'Hammer' at 2017.02.07 signaled by DTO:
http://ForecastCity.com/forecasts/Forex/daily-trading-opportunity/GBPUSD/3

Closed Profit:
TP1 @ 1.2555 touched at 2017.02.09 with 48 pip Profit.
TP2 @ 1.2725 touched at 2017.04.18 with 218 pip Profit.
TP3 @ 1.2910 touched at 2017.04.27 with 403 pip Profit.
TP4 @ 1.3045 touched at 2017.05.18 with 538 pip Profit.
48 + 218 + 403 + 538 = 1207 pip

Open Profit:
Profit for one trade is 1.3097(current price) - 1.2507(open price) = 591 pip
9 trade(s) still open, therefore total profit for open trade(s) is 591 x 9 = 5319 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.2155 to 1.1890). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.2155)
    • Support on 03/14/2017
    • Support on 03/13/2017
    • Support on 03/12/2017
    • Support on 03/10/2017
    • Support on 03/09/2017
    • Support on 03/08/2017
    • Support on 03/07/2017
    • Support on 01/13/2017
    • Support on 01/12/2017
    • Support on 01/11/2017
    • Support on 01/10/2017
    • Support on 01/09/2017
    • Support on 10/31/2016
    • Support on 10/28/2016
    • Support on 10/27/2016
    • Support on 10/26/2016
    • Support on 10/25/2016
    • Support on 10/21/2016
    • Support on 10/18/2016
    • Support on 10/17/2016
    • Support on 10/14/2016
    • Support on 10/13/2016
    • Support on 10/07/2016
  • Ending of entry zone (1.1890)
    • Support on 10/07/2016

DateJuly 15, 2017 - 10:15
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast resumption of uptrend.

Technical analysis:

  • A trough is formed in daily chart at 1.2810 on 07/12/2017, so more gains to resistance(s) 1.3500, 1.3835, 1.4045 and more heights 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 66.

Take Profits:

  1. 1.2555
  2. 1.2725
  3. 1.2910
  4. 1.3045
  5. 1.3500
  6. 1.3835
  7. 1.4045
  8. 1.4565
  9. 1.4950
  10. 1.5815
  11. 1.6455
  12. 1.7180
Click on the level to view price action history.

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