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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

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Trade Setup
#GBPUSD
Total Profit: 69 pip
Closed trade(s): 69 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 1.2971 (day close price) based on 'Valley' at 2018.11.13 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.3040 touched at 2018.11.14 with 69 pip Profit.

6 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.2775 to 1.2660). 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 (1.2775)
    • Support on 07/06/2016
    • Resistance on 10/06/2016
    • Resistance on 12/06/2016
    • Support on 04/25/2017
    • Support on 05/26/2017
    • Support on 05/31/2017
    • Resistance on 06/12/2017
    • Resistance on 06/14/2017
    • Resistance on 06/15/2017
    • Resistance on 06/16/2017
    • Resistance on 06/19/2017
    • Support on 08/23/2017
    • Support on 08/24/2017
    • Support on 09/05/2018
    • Support on 10/26/2018
    • Resistance on 10/31/2018
  • Ending of entry zone (1.2660)
    • Resistance on 11/11/2016
    • Resistance on 12/01/2016
    • Resistance on 12/08/2016
    • Resistance on 12/14/2016
    • Resistance on 01/26/2017
    • Resistance on 02/01/2017
    • Resistance on 02/02/2017
    • Support on 06/09/2017
    • Support on 06/22/2017
    • Trough on 08/15/2018
    • Support on 08/15/2018

DateNovember 18, 2018 - 15:09
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:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • While the RSI uptrend #2 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 1.3070 on 11/14/2018, so more losses to support(s) 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 44.

Take Profits:

  1. 1.2920
  2. 1.3040
  3. 1.3300
  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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