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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeMarch 5, 2019 - 20:16
Advisebuy (limit) above S1=1.3135
Intraday
Short term
Yesterday range89
Yesterday high1.3254
Yesterday low1.3166
Yesterday close1.3179
R31.3345
R21.3225
R11.3195
S11.3135
S21.3105
S31.3005
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.3135.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.3195.
TP4: R2=1.3225.
Set the stoploss of these orders at breakout of S2=1.3105.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.3105.
In this situation, there is an expectation to reach the target S3=1.3005.
Set the stoploss of reverse orders at breakout of S1=1.3135.

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