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Intraday forecastBritish Pound vs. US Dollar technical chart
SymbolGBPUSD
Release TimeWed, 10/10/2018 - 19:50
Advisebuy (limit) above S1=1.3145
Intraday
Short term
Yesterday range117
Yesterday high1.315
Yesterday low1.3033
Yesterday close1.3142
R31.33
R21.3275
R11.3215
S11.3145
S21.313
S31.3045
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.3145.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.3215.
TP4: R2=1.3275.
Set the stoploss of these orders at breakout of S2=1.313.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.313.
In this situation, there is an expectation to reach the target S3=1.3045.
Set the stoploss of reverse orders at breakout of S1=1.3145.

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