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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeJune 3, 2013 - 21:52
Advisebuy (limit) above S1=1.5275
Intraday
Short term
Yesterday range184
Yesterday high1.5375
Yesterday low1.5191
Yesterday close1.5319
R31.5455
R21.5405
R11.5375
S11.5275
S21.5235
S31.5125
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.5275.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.5375.
TP4: R2=1.5405.
Set the stoploss of these orders at breakout of S2=1.5235.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.5235.
In this situation, there is an expectation to reach the target S3=1.5125.
Set the stoploss of reverse orders at breakout of S1=1.5275.

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