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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

Download MT4 template file

Trade Setup

#GBPUSD
Total Profit: 5937 pip
Closed trade(s): 5937 pip Profit
Open trade(s): 0 pip Profit
_______________________________________________
Trade Setup:
We opened 13 BUY trade(s) @ 1.2508 (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 47 pip Profit.
TP2 @ 1.2725 touched at 2017.04.18 with 217 pip Profit.
TP3 @ 1.2910 touched at 2017.04.27 with 402 pip Profit.
TP4 @ 1.3045 touched at 2017.05.18 with 537 pip Profit.
47 + 217 + 402 + 537 = 1203 pip

Closed Profit:
Profit for one trade is 1.3034(current price) - 1.2508(open price) = 526 pip
9 trade(s) closed at market price as trend direction is changed, therefore total profit will increase by 526 x 9 = 4734 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.3120 to 1.3265). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (1.3120)
    • Support on 08/03/2017
    • Support on 07/31/2017
    • Resistance on 07/27/2017
    • Resistance on 07/26/2017
    • Resistance on 07/18/2017
    • Resistance on 07/17/2017
    • Resistance on 07/14/2017
    • Peak on 09/22/2016
    • Support on 09/01/2016
    • Support on 08/26/2016
    • Support on 07/28/2016
    • Support on 07/27/2016
    • Support on 07/26/2016
    • Support on 07/25/2016
    • Support on 07/15/2016
    • Support on 07/14/2016
    • Support on 07/13/2016
    • Support on 06/27/2016
  • Ending of entry zone (1.3265)
    • Peak on 08/04/2017
    • Peak on 08/03/2017
    • Resistance on 08/03/2017
    • Resistance on 08/26/2016
    • Resistance on 08/25/2016
    • Resistance on 08/24/2016
    • Resistance on 08/01/2016
    • Resistance on 07/29/2016
    • Resistance on 07/22/2016
    • Resistance on 07/21/2016
    • Resistance on 07/19/2016
    • Resistance on 07/18/2016
    • Resistance on 07/13/2016
    • Resistance on 07/12/2016
DateAugust 6, 2017 - 09:04
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

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

Technical analysis:

  • A peak is formed in daily chart at 1.3265 on 08/04/2017, so more losses to support(s) 1.2965, 1.2775, 1.2625 and more depths is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 50.

Take Profits:

  1. 1.3035
  2. 1.2965
  3. 1.2775
  4. 1.2625
  5. 1.2345
  6. 1.2155
  7. 1.1890
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / US Dollar (GBPUSD) new Sun, 21 Apr 2024
British Pound / US Dollar (GBPUSD) Sun, 14 Apr 2024
British Pound / US Dollar (GBPUSD) Sat, 6 Apr 2024
British Pound / US Dollar (GBPUSD) Sat, 30 Mar 2024
British Pound / US Dollar (GBPUSD) Sat, 23 Mar 2024
History
Daily-Trading-Opportunities on GBPUSD.