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Intraday forecastBritish Pound vs. US Dollar technical chart
SymbolGBPUSD
Release TimeWed, 07/11/2018 - 20:17
Advisesell (limit) below R1=1.3255
Intraday
Short term
Yesterday range78
Yesterday high1.3301
Yesterday low1.3223
Yesterday close1.327
R31.3385
R21.3285
R11.3255
S11.319
S21.316
S31.31
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.3255.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.319.
TP4: S2=1.316.
Set the stoploss of these orders at breakout of R2=1.3285.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.3285.
In this situation, there is an expectation to reach the target R3=1.3385.
Set the stoploss of reverse orders at breakout of R1=1.3255.

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