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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeApril 16, 2018 - 20:21
Advisebuy (limit) above S1=1.4265
Intraday
Short term
Yesterday range76
Yesterday high1.4296
Yesterday low1.422
Yesterday close1.4235
R31.4455
R21.438
R11.4345
S11.4265
S21.424
S31.4145
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.4265.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.4345.
TP4: R2=1.438.
Set the stoploss of these orders at breakout of S2=1.424.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.424.
In this situation, there is an expectation to reach the target S3=1.4145.
Set the stoploss of reverse orders at breakout of S1=1.4265.

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