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Intraday forecastBritish Pound vs. US Dollar technical chart
SymbolGBPUSD
Release TimeMon, 04/16/2018 - 11:24
Advisebuy (limit) above S1=1.426
Intraday
Short term
Yesterday range76
Yesterday high1.4296
Yesterday low1.422
Yesterday close1.4235
R31.439
R21.4345
R11.432
S11.426
S21.4235
S31.414
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.426.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.432.
TP4: R2=1.4345.
Set the stoploss of these orders at breakout of S2=1.4235.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.4235.
In this situation, there is an expectation to reach the target S3=1.414.
Set the stoploss of reverse orders at breakout of S1=1.426.

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