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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeAugust 19, 2019 - 20:41
Advisebuy (limit) above S1=1.2105
Intraday
Short term
Yesterday range101
Yesterday high1.2175
Yesterday low1.2073
Yesterday close1.2141
R31.221
R21.219
R11.217
S11.2105
S21.2085
S31.1995
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2105.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.217.
TP4: R2=1.219.
Set the stoploss of these orders at breakout of S2=1.2085.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.2085.
In this situation, there is an expectation to reach the target S3=1.1995.
Set the stoploss of reverse orders at breakout of S1=1.2105.

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