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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeThu, 02/13/2020 - 19:42
Advisebuy (limit) above S1=1.3005
Intraday
Short term
Yesterday range45
Yesterday high1.2991
Yesterday low1.2946
Yesterday close1.2957
R31.3145
R21.31
R11.307
S11.3005
S21.299
S31.291
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.3005.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.307.
TP4: R2=1.31.
Set the stoploss of these orders at breakout of S2=1.299.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.299.
In this situation, there is an expectation to reach the target S3=1.291.
Set the stoploss of reverse orders at breakout of S1=1.3005.

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