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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.3000 to 1.2955). 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 (1.3000)
    • Support on 07/19/2018
    • Support on 07/20/2018
    • Resistance on 09/07/2018
  • Ending of entry zone (1.2955)
    • Resistance on 05/09/2017
    • Resistance on 05/10/2017
    • Resistance on 05/11/2017
    • Resistance on 05/16/2017
    • Support on 05/23/2017
    • Support on 05/24/2017
    • Resistance on 05/26/2017
    • Resistance on 06/06/2017
    • Resistance on 06/28/2017
    • Resistance on 07/04/2017
    • Resistance on 07/05/2017
    • Resistance on 07/13/2017
    • Support on 08/08/2017
    • Support on 08/10/2017
    • Support on 08/11/2017
    • Support on 08/14/2017
    • Resistance on 08/29/2017
    • Resistance on 09/01/2017
    • Trough on 07/19/2018
    • Support on 07/19/2018
    • Resistance on 08/08/2018
    • Support on 08/31/2018
    • Resistance on 09/05/2018
    • Resistance on 09/06/2018
    • Resistance on 09/07/2018

DateSeptember 29, 2018 - 19:18
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.26600, beginning of uptrend is expected.
  • We make sure when the resistance at 1.33150 breaks.
  • If the support at 1.26600 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 46 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 1.3300 on 09/20/2018, so more losses to support(s) 1.3000, 1.2955, 1.2775 and minimum to Major Support (1.2660) 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 48.

Take Profits:

  1. 1.3080
  2. 1.3205
  3. 1.3315
  4. 1.3515
  5. 1.3720
  6. 1.3970
  7. 1.4345
Click on the level to view price action history.

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