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Intraday forecastBritish Pound vs. US Dollar technical chart
SymbolGBPUSD
Release TimeTue, 01/08/2019 - 20:08
Advisebuy (limit) above S1=1.269
Intraday
Short term
Yesterday range76
Yesterday high1.2786
Yesterday low1.2711
Yesterday close1.2777
R31.284
R21.279
R11.2755
S11.269
S21.267
S31.2575
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.269.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2755.
TP4: R2=1.279.
Set the stoploss of these orders at breakout of S2=1.267.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.267.
In this situation, there is an expectation to reach the target S3=1.2575.
Set the stoploss of reverse orders at breakout of S1=1.269.

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