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Intraday forecastBritish Pound vs. US Dollar technical chart
SymbolGBPUSD
Release TimeWed, 01/09/2019 - 19:33
Advisebuy (limit) above S1=1.274
Intraday
Short term
Yesterday range90
Yesterday high1.2796
Yesterday low1.2706
Yesterday close1.2713
R31.289
R21.285
R11.2815
S11.274
S21.272
S31.263
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.274.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2815.
TP4: R2=1.285.
Set the stoploss of these orders at breakout of S2=1.272.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.272.
In this situation, there is an expectation to reach the target S3=1.263.
Set the stoploss of reverse orders at breakout of S1=1.274.

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