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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeJuly 17, 2018 - 19:50
Advisesell (limit) below R1=1.3155
Intraday
Short term
Yesterday range76
Yesterday high1.3292
Yesterday low1.3216
Yesterday close1.3233
R31.3285
R21.3185
R11.3155
S11.307
S21.3045
S31.3
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.3155.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.307.
TP4: S2=1.3045.
Set the stoploss of these orders at breakout of R2=1.3185.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.3185.
In this situation, there is an expectation to reach the target R3=1.3285.
Set the stoploss of reverse orders at breakout of R1=1.3155.

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