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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeAugust 13, 2018 - 09:27
Advisesell (limit) below R1=1.2775
Intraday
Short term
Yesterday range114
Yesterday high1.2837
Yesterday low1.2723
Yesterday close1.2764
R31.2875
R21.279
R11.2775
S11.272
S21.2685
S31.265
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.2775.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.272.
TP4: S2=1.2685.
Set the stoploss of these orders at breakout of R2=1.279.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.279.
In this situation, there is an expectation to reach the target R3=1.2875.
Set the stoploss of reverse orders at breakout of R1=1.2775.

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