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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeJuly 15, 2019 - 10:23
Advisebuy (limit) above S1=1.252
Intraday
Short term
Yesterday range62
Yesterday high1.2578
Yesterday low1.2516
Yesterday close1.2576
R31.262
R21.259
R11.2575
S11.252
S21.2505
S31.242
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.252.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2575.
TP4: R2=1.259.
Set the stoploss of these orders at breakout of S2=1.2505.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.2505.
In this situation, there is an expectation to reach the target S3=1.242.
Set the stoploss of reverse orders at breakout of S1=1.252.

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