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Intraday forecastBritish Pound vs. US Dollar technical chart
SymbolGBPUSD
Release TimeFri, 02/08/2019 - 09:35
Advisebuy (limit) above S1=1.291
Intraday
Short term
Yesterday range142
Yesterday high1.2996
Yesterday low1.2854
Yesterday close1.2948
R31.305
R21.3
R11.2975
S11.291
S21.2875
S31.277
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.291.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2975.
TP4: R2=1.3.
Set the stoploss of these orders at breakout of S2=1.2875.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.2875.
In this situation, there is an expectation to reach the target S3=1.277.
Set the stoploss of reverse orders at breakout of S1=1.291.

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