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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeAugust 20, 2019 - 20:47
Advisebuy (limit) above S1=1.2135
Intraday
Short term
Yesterday range68
Yesterday high1.2172
Yesterday low1.2104
Yesterday close1.2126
R31.23
R21.2245
R11.2205
S11.2135
S21.208
S31.1955
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2135.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2205.
TP4: R2=1.2245.
Set the stoploss of these orders at breakout of S2=1.208.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.208.
In this situation, there is an expectation to reach the target S3=1.1955.
Set the stoploss of reverse orders at breakout of S1=1.2135.

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