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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeMay 30, 2019 - 20:22
Advisebuy (limit) above S1=1.259
Intraday
Short term
Yesterday range60
Yesterday high1.2671
Yesterday low1.2611
Yesterday close1.2625
R31.2685
R21.2665
R11.264
S11.259
S21.258
S31.25
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.259.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.264.
TP4: R2=1.2665.
Set the stoploss of these orders at breakout of S2=1.258.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.258.
In this situation, there is an expectation to reach the target S3=1.25.
Set the stoploss of reverse orders at breakout of S1=1.259.

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