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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeTue, 10/22/2019 - 00:33
Advisebuy (limit) above S1=1.292
Intraday
Short term
Yesterday range138
Yesterday high1.3012
Yesterday low1.2873
Yesterday close1.2958
R31.3085
R21.304
R11.301
S11.292
S21.289
S31.2785
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.292.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.301.
TP4: R2=1.304.
Set the stoploss of these orders at breakout of S2=1.289.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.289.
In this situation, there is an expectation to reach the target S3=1.2785.
Set the stoploss of reverse orders at breakout of S1=1.292.

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