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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.4015 to 1.4240). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.4015)
    • Support on 01/30/2018
    • Resistance on 02/08/2018
    • Resistance on 02/14/2018
    • Support on 02/16/2018
    • Resistance on 02/21/2018
    • Resistance on 02/23/2018
    • Resistance on 02/26/2018
    • Support on 03/29/2018
    • Support on 03/30/2018
    • Support on 04/03/2018
    • Support on 04/04/2018
    • Resistance on 04/23/2018
    • Resistance on 02/19/2021
    • Resistance on 02/26/2021
    • Resistance on 03/03/2021
    • Resistance on 03/04/2021
  • Ending of entry zone (1.4240)
    • Resistance on 01/24/2018
    • Resistance on 01/25/2018
    • Resistance on 01/26/2018
    • Resistance on 01/31/2018
    • Resistance on 03/26/2018
    • Resistance on 03/27/2018
    • Resistance on 04/12/2018
    • Resistance on 04/13/2018
    • Resistance on 04/19/2018
    • Resistance on 02/24/2021

DateMarch 6, 2021 - 23:55
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.43450, beginning of downtrend is expected.
  • We make sure when the support at 1.37750 breaks.
  • If the resistance at 1.43450 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 1.4243 on 02/24/2021, so more losses minimum to Major Support (1.3775) 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 48.

Take Profits:

  1. 1.3655
  2. 1.3480
  3. 1.3200
  4. 1.2695
  5. 1.2250
  6. 1.1960
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