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Intraday forecastBritish Pound vs. US Dollar technical chart
SymbolGBPUSD
Release TimeMon, 01/13/2020 - 19:53
Advisesell (limit) below R1=1.3015
Intraday
Short term
Yesterday range55
Yesterday high1.3096
Yesterday low1.3041
Yesterday close1.3059
R31.314
R21.3045
R11.3015
S11.2955
S21.291
S31.288
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.3015.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.2955.
TP4: S2=1.291.
Set the stoploss of these orders at breakout of R2=1.3045.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.3045.
In this situation, there is an expectation to reach the target R3=1.314.
Set the stoploss of reverse orders at breakout of R1=1.3015.

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