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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeMon, 01/27/2020 - 22:37
Advisebuy (limit) above S1=1.2995
Intraday
Short term
Yesterday range65
Yesterday high1.3104
Yesterday low1.3039
Yesterday close1.3057
R31.315
R21.3115
R11.3075
S11.2995
S21.2965
S31.287
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2995.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.3075.
TP4: R2=1.3115.
Set the stoploss of these orders at breakout of S2=1.2965.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.2965.
In this situation, there is an expectation to reach the target S3=1.287.
Set the stoploss of reverse orders at breakout of S1=1.2995.

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