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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.3590 to 1.3680). 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 (1.3590)
    • Resistance on 01/03/2018
    • Resistance on 01/02/2018
    • Resistance on 09/22/2017
    • Resistance on 09/21/2017
    • Resistance on 09/20/2017
    • Resistance on 09/18/2017
    • Resistance on 09/15/2017
  • Ending of entry zone (1.3680)
    • Support on 03/12/2009
    • Support on 03/11/2009
    • Support on 03/10/2009
    • Support on 01/26/2009
    • Support on 01/25/2009
    • Support on 01/23/2009
    • Support on 01/22/2009
    • Support on 01/21/2009
    • Support on 06/24/2001
    • Support on 06/12/2001
    • Support on 06/10/2001

DateJanuary 6, 2018 - 19:22
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 trough is formed in daily chart at 1.3300 on 12/15/2017, so more gains maximum to Trend Hunter Sell Zone (1.3590 to 1.3680) 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 63.

Take Profits:

  1. 1.3465
  2. 1.3340
  3. 1.3260
  4. 1.3120
  5. 1.3020
  6. 1.2825
  7. 1.2625
  8. 1.2345
  9. 1.2155
  10. 1.1990
Click on the level to view price action history.

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British Pound / US Dollar (GBPUSD) Sat, 23 Mar 2024
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