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Intraday forecastBritish Pound vs. US Dollar technical chart
SymbolGBPUSD
Release TimeMon, 03/12/2018 - 20:08
Advisebuy (limit) above S1=1.386
Intraday
Short term
Yesterday range101
Yesterday high1.3889
Yesterday low1.3788
Yesterday close1.3845
R31.4075
R21.4
R11.3935
S11.386
S21.384
S31.375
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.386.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.3935.
TP4: R2=1.4.
Set the stoploss of these orders at breakout of S2=1.384.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.384.
In this situation, there is an expectation to reach the target S3=1.375.
Set the stoploss of reverse orders at breakout of S1=1.386.

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