Overall Rating System Is Unfair

It has been like that since the Fifamobile Season 6 and migrated over to FCM, except for the badges recent addition. 

For a start, you are missing Level 3 Badges (your screenie shows Level 2). I'll get to that later, the "basic" rundown of OVR 1st.

The formula: Team OVR = Average Base OVR (rounded up) + Average Rank (rounded up).
And you need to be slightly over the whole number to get +1.

So, in practice, to get 120, you need 10x114 players and one 115 player. Then the same rule applies for ranks. You need at least 10x rank 4 (red) and one with rank 5 (gold). More 115s allow you to have 113s. More gold ranks allow you to have more ranks below the red. It's all about the rounded-up numbers (and you have a lot more than needed).

Your ranks are 11x5, so that's 5 with 11 players. So this is a clean 5; it stays at 5, which is the max. Tip: For OVR, you don't need to fully rank them up (but you will do that to get the max out of the card; not having to do the max helps with interim players, though).

So, looking at your lineup and the base OVR. You got 9x115 + 2x113, so that's 1261. Now divide it by 11, and that gives you ~114.64, which, rounded up, is 115 base OVR. If you had all 115 bases, you would just reach 115, which is the current max.

Add your tally; it's 115 + 5 = 120.

Once there is another hike in the future (likely to 117), all you will need is to replace your 113s with cards where the OVR difference is 5 to push you into the 1266 tally. This will give you 115.09 and rounded up to 116 + your 5 ranks.

Release of the badges is where things got a bit even more complicated. You get max 3 active badges. If any of the badges are at level 3, you get +1 Team OVR; if you have all 3 at level 3, then you get +3 OVR.

So the bottom line is, your lineup is a pure unbadged max OVR at 120. The other players will have some active Level 3 badges. The current max OVR is 123.

Badges at level 3 you need are Footyverse, Glorious Era, and Festive Fixtures. Now, keep in mind that at this point, badges do expire, so Footyverse will expire, and the new event will slide in. It's a very expensive or extreme pack luck way to stay ahead of people in the OVR race. If you want to follow that path, I'd stick with GE and FF events and look at the next event. Footyverse will expire in a week and a bit.

LMK if this makes sense to you.