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Intraday forecastBritish Pound vs. US Dollar technical chart
SymbolGBPUSD
Release TimeThu, 09/13/2018 - 19:53
Advisebuy (limit) above S1=1.3065
Intraday
Short term
Yesterday range103
Yesterday high1.3082
Yesterday low1.2979
Yesterday close1.3035
R31.3205
R21.315
R11.3125
S11.3065
S21.3045
S31.2955
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.3065.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.3125.
TP4: R2=1.315.
Set the stoploss of these orders at breakout of S2=1.3045.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.3045.
In this situation, there is an expectation to reach the target S3=1.2955.
Set the stoploss of reverse orders at breakout of S1=1.3065.

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