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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeFebruary 25, 2019 - 14:05
Advisebuy (limit) above S1=1.3045
Intraday
Short term
Yesterday range112
Yesterday high1.308
Yesterday low1.2968
Yesterday close1.3046
R31.3215
R21.3155
R11.3105
S11.3045
S21.3025
S31.2935
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.3045.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.3105.
TP4: R2=1.3155.
Set the stoploss of these orders at breakout of S2=1.3025.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.3025.
In this situation, there is an expectation to reach the target S3=1.2935.
Set the stoploss of reverse orders at breakout of S1=1.3045.

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