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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeJanuary 15, 2018 - 19:56
Advisebuy (limit) above S1=1.375
Intraday
Short term
Yesterday range212
Yesterday high1.3744
Yesterday low1.3532
Yesterday close1.3726
R31.39
R21.384
R11.382
S11.375
S21.373
S31.364
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.375.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.382.
TP4: R2=1.384.
Set the stoploss of these orders at breakout of S2=1.373.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.373.
In this situation, there is an expectation to reach the target S3=1.364.
Set the stoploss of reverse orders at breakout of S1=1.375.

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