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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 (1.3025 to 1.2920). 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 (1.3025)
    • Resistance on 08/03/2018
    • Resistance on 08/29/2018
    • Resistance on 08/30/2018
    • Resistance on 08/31/2018
    • Resistance on 09/07/2018
    • Resistance on 09/10/2018
    • Support on 09/13/2018
    • Support on 10/01/2018
    • Resistance on 10/04/2018
    • Support on 10/09/2018
  • Ending of entry zone (1.2920)
    • Resistance on 08/18/2017
    • Resistance on 08/21/2017
    • Support on 09/01/2017
    • Support on 09/04/2017
    • Support on 09/05/2017
    • Support on 08/06/2018
    • Support on 08/07/2018
    • Resistance on 08/09/2018
    • Resistance on 08/21/2018
    • Resistance on 08/22/2018
    • Resistance on 08/23/2018
    • Resistance on 08/28/2018
    • Resistance on 09/05/2018
    • Support on 10/03/2018
    • Trough on 10/04/2018
    • Support on 10/04/2018
DateOctober 17, 2018 - 12:18
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 1.33000 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 44 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 1.3255 on 10/12/2018, so more losses to support(s) 1.3025, 1.2955, 1.2920 and minimum to Major Support (1.2660) 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 51.

Take Profits:

  1. 1.3170
  2. 1.3300
  3. 1.3515
  4. 1.3720
  5. 1.3970
  6. 1.4345
Click on the level to view price action history.
Symbol Released Current Forecast
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
British Pound / US Dollar (GBPUSD) free Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on GBPUSD.