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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeJanuary 16, 2018 - 19:59
Advisebuy (limit) above S1=1.376
Intraday
Short term
Yesterday range96
Yesterday high1.3819
Yesterday low1.3723
Yesterday close1.3791
R31.39
R21.384
R11.382
S11.376
S21.374
S31.365
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.376.
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=1.374.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.374.
In this situation, there is an expectation to reach the target S3=1.365.
Set the stoploss of reverse orders at breakout of S1=1.376.

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