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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeJanuary 17, 2019 - 20:56
Advisebuy (limit) above S1=1.292
Intraday
Short term
Yesterday range73
Yesterday high1.2897
Yesterday low1.2824
Yesterday close1.2877
R31.3175
R21.307
R11.3015
S11.292
S21.2895
S31.2795
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.292.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.3015.
TP4: R2=1.307.
Set the stoploss of these orders at breakout of S2=1.2895.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.2895.
In this situation, there is an expectation to reach the target S3=1.2795.
Set the stoploss of reverse orders at breakout of S1=1.292.

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