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Intraday forecastBritish Pound vs. US Dollar technical chart
SymbolGBPUSD
Release TimeThu, 01/11/2018 - 20:06
Advisebuy (limit) above S1=1.3495
Intraday
Short term
Yesterday range80
Yesterday high1.3562
Yesterday low1.3481
Yesterday close1.3505
R31.3615
R21.3585
R11.3555
S11.3495
S21.346
S31.3355
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.3495.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.3555.
TP4: R2=1.3585.
Set the stoploss of these orders at breakout of S2=1.346.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.346.
In this situation, there is an expectation to reach the target S3=1.3355.
Set the stoploss of reverse orders at breakout of S1=1.3495.

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