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Intraday forecastBritish Pound vs. US Dollar technical chart
SymbolGBPUSD
Release TimeTue, 05/15/2018 - 19:43
Advisesell (limit) below R1=1.3535
Intraday
Short term
Yesterday range70
Yesterday high1.3608
Yesterday low1.3538
Yesterday close1.3555
R31.3645
R21.3555
R11.3535
S11.345
S21.343
S31.34
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.3535.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.345.
TP4: S2=1.343.
Set the stoploss of these orders at breakout of R2=1.3555.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.3555.
In this situation, there is an expectation to reach the target R3=1.3645.
Set the stoploss of reverse orders at breakout of R1=1.3535.

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