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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeTue, 09/10/2019 - 20:04
Advisebuy (limit) above S1=1.231
Intraday
Short term
Yesterday range152
Yesterday high1.2385
Yesterday low1.2233
Yesterday close1.2342
R31.25
R21.2415
R11.2385
S11.231
S21.2285
S31.219
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.231.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2385.
TP4: R2=1.2415.
Set the stoploss of these orders at breakout of S2=1.2285.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.2285.
In this situation, there is an expectation to reach the target S3=1.219.
Set the stoploss of reverse orders at breakout of S1=1.231.

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