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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

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Trade Setup
#GBPUSD
Total Profit: -203 pip
Closed trade(s): 40 pip Profit
Open trade(s): -243 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 1.2655 based on 'Hammer' at 2019.05.23 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.2695 touched at 2019.05.24 with 40 pip Profit.

Open Profit:
Profit for one trade is 1.2628(current price) - 1.2655(open price) = -27 pip
9 trade(s) still open, therefore total profit for open trade(s) is -27 x 9 = -243 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.

DateJune 1, 2019 - 20:16
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.24750, beginning of uptrend is expected.
  • We make sure when the resistance at 1.29650 breaks.
  • If the support at 1.24750 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 1.3170 on 05/03/2019, so more losses to support(s) 1.2590 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 30.

Take Profits:

  1. 1.2695
  2. 1.2775
  3. 1.2865
  4. 1.2965
  5. 1.3170
  6. 1.3380
  7. 1.3655
  8. 1.3970
  9. 1.4345
Click on the level to view price action history.

Symbol Released Current Forecast
British Pound / US Dollar (GBPUSD) Sat, 23 Mar 2024
British Pound / US Dollar (GBPUSD) free Sun, 17 Mar 2024
British Pound / US Dollar (GBPUSD) free Sat, 9 Mar 2024
British Pound / US Dollar (GBPUSD) Sat, 2 Mar 2024
British Pound / US Dollar (GBPUSD) free Sun, 25 Feb 2024