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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeNovember 20, 2019 - 19:54
Advisebuy (limit) above S1=1.29
Intraday
Short term
Yesterday range60
Yesterday high1.297
Yesterday low1.291
Yesterday close1.2925
R31.301
R21.297
R11.295
S11.29
S21.2885
S31.28
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.29.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.295.
TP4: R2=1.297.
Set the stoploss of these orders at breakout of S2=1.2885.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.2885.
In this situation, there is an expectation to reach the target S3=1.28.
Set the stoploss of reverse orders at breakout of S1=1.29.

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