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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

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Trade Setup
#GBPUSD
Total Profit: 1202 pip
Closed trade(s): 462 pip Profit
Open trade(s): 740 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 1.2886 based on 'Two-day reversal candle(Hammer)' at 2019.02.15 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.2920 touched at 2019.02.18 with 34 pip Profit.
TP2 @ 1.3000 touched at 2019.02.19 with 114 pip Profit.
TP3 @ 1.3200 touched at 2019.02.26 with 314 pip Profit.
34 + 114 + 314 = 462 pip

Open Profit:
Profit for one trade is 1.3034(current price) - 1.2886(open price) = 148 pip
5 trade(s) still open, therefore total profit for open trade(s) is 148 x 5 = 740 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.
DateApril 6, 2019 - 15:07
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 1.24750 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • While the RSI support #1 at 40 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 1.3380 on 03/13/2019, so more losses to support(s) 1.3000, 1.2920, 1.2815 and minimum to Major Support (1.2475) 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. 1.3000
  3. 1.3200
  4. 1.3430
  5. 1.3655
  6. 1.3970
  7. 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.