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Weekly forecast British Pound vs. US Dollar technical chart

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Trade Setup
Total Profit: -1312 pip
Closed trade(s): 0 pip Profit
Open trade(s): -1312 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 1.2874 (day close price) based on 'Valley' at 2018.11.22 signaled by DTO:

Open Profit:
Profit for one trade is 1.2711(current price) - 1.2874(open price) = -164 pip
8 trade(s) still open, therefore total profit for open trade(s) is -164 x 8 = -1312 pip

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateSun, 01/06/2019 - 02:35
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 1.2475, beginning of uptrend is expected.
  • We make sure when the resistance at 1.2815 breaks.
  • If the support at 1.2475 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI bounced from the support #1 at 31 and it prevented price from more losses.
  • The RSI downtrend #2 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 1.2398 on 01/03/2019, so more gains maximum to Major Resistance (1.2815) 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.

Supports and Resistances:

  1. 1.4345
  2. 1.3970
  3. 1.3655
  4. 1.3430
  5. 1.3200
  6. 1.3040
  7. 1.2920
  8. 1.2345
  9. 1.2155
  10. 1.1990
Click on the level to view price action history.

Symbol Released Current Forecast
British Pound vs. US Dollar (GBPUSD) new Sat, 16 Nov 2019
British Pound vs. US Dollar (GBPUSD) Sat, 9 Nov 2019
British Pound vs. US Dollar (GBPUSD) Sat, 2 Nov 2019
British Pound vs. US Dollar (GBPUSD) Sat, 26 Oct 2019
British Pound vs. US Dollar (GBPUSD) free Sat, 19 Oct 2019