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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeJune 12, 2019 - 20:04
Advisesell (limit) below R1=1.2715
Intraday
Short term
Yesterday range62
Yesterday high1.2732
Yesterday low1.267
Yesterday close1.2723
R31.2845
R21.2745
R11.2715
S11.267
S21.2655
S31.261
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.2715.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.267.
TP4: S2=1.2655.
Set the stoploss of these orders at breakout of R2=1.2745.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.2745.
In this situation, there is an expectation to reach the target R3=1.2845.
Set the stoploss of reverse orders at breakout of R1=1.2715.

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