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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeFebruary 19, 2018 - 20:19
Advisebuy (limit) above S1=1.3955
Intraday
Short term
Yesterday range148
Yesterday high1.4145
Yesterday low1.3996
Yesterday close1.4028
R31.4145
R21.4075
R11.404
S11.3955
S21.392
S31.381
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.3955.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.404.
TP4: R2=1.4075.
Set the stoploss of these orders at breakout of S2=1.392.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.392.
In this situation, there is an expectation to reach the target S3=1.381.
Set the stoploss of reverse orders at breakout of S1=1.3955.

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