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Intraday forecastBritish Pound vs. US Dollar technical chart
SymbolGBPUSD
Release TimeThu, 08/09/2018 - 19:41
Advisesell (limit) below R1=1.2885
Intraday
Short term
Yesterday range106
Yesterday high1.296
Yesterday low1.2853
Yesterday close1.2881
R31.2995
R21.2905
R11.2885
S11.2835
S21.282
S31.2785
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.2885.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.2835.
TP4: S2=1.282.
Set the stoploss of these orders at breakout of R2=1.2905.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.2905.
In this situation, there is an expectation to reach the target R3=1.2995.
Set the stoploss of reverse orders at breakout of R1=1.2885.

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