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Intraday forecastBritish Pound vs. US Dollar technical chart
SymbolGBPUSD
Release TimeTue, 06/12/2018 - 20:25
Advisesell (limit) below R1=1.341
Intraday
Short term
Yesterday range96
Yesterday high1.3441
Yesterday low1.3344
Yesterday close1.3377
R31.351
R21.3425
R11.341
S11.3345
S21.333
S31.3295
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.341.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.3345.
TP4: S2=1.333.
Set the stoploss of these orders at breakout of R2=1.3425.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.3425.
In this situation, there is an expectation to reach the target R3=1.351.
Set the stoploss of reverse orders at breakout of R1=1.341.

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