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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeWed, 08/21/2019 - 23:36
Advisebuy (limit) above S1=1.2105
Intraday
Short term
Yesterday range63
Yesterday high1.2174
Yesterday low1.2111
Yesterday close1.2122
R31.2245
R21.2205
R11.2175
S11.2105
S21.208
S31.1985
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=1.2175.
TP4: R2=1.2205.
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=1.1985.
Set the stoploss of reverse orders at breakout of S1=1.2105.

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