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Intraday forecastBritish Pound vs. US Dollar technical chart
SymbolGBPUSD
Release TimeWed, 12/06/2017 - 19:33
Advisesell (limit) below R1=1.342
Intraday
Short term
Yesterday range111
Yesterday high1.3481
Yesterday low1.337
Yesterday close1.344
R31.353
R21.344
R11.342
S11.3355
S21.331
S31.328
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.342.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.3355.
TP4: S2=1.331.
Set the stoploss of these orders at breakout of R2=1.344.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.344.
In this situation, there is an expectation to reach the target R3=1.353.
Set the stoploss of reverse orders at breakout of R1=1.342.

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