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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

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Trade Setup

#GBPUSD
Total Profit: -146 pip
Closed trade(s): 46 pip Profit
Open trade(s): -192 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1.2994 (day close price) based on 'Valley' at 2018.11.01 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.3040 touched at 2018.11.02 with 46 pip Profit.

Open Profit:
Profit for one trade is 1.2962(current price) - 1.2994(open price) = -32 pip
6 trade(s) still open, therefore total profit for open trade(s) is -32 x 6 = -192 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
DateNovember 3, 2018 - 20:45
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:

  • A trough is formed in daily chart at 1.2695 on 10/30/2018, so more gains to resistance(s) 1.3040 and maximum to Major Resistance (1.3300) 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 49.

Take Profits:

  1. 1.3040
  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.