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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeMarch 14, 2018 - 21:03
Advisebuy (limit) above S1=1.3925
Intraday
Short term
Yesterday range120
Yesterday high1.3994
Yesterday low1.3874
Yesterday close1.3964
R31.407
R21.4025
R11.3995
S11.3925
S21.391
S31.3825
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.3925.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.3995.
TP4: R2=1.4025.
Set the stoploss of these orders at breakout of S2=1.391.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.391.
In this situation, there is an expectation to reach the target S3=1.3825.
Set the stoploss of reverse orders at breakout of S1=1.3925.

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