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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeOctober 15, 2020 - 21:16
Advisesell (limit) below R1=1.2965
Intraday
Short term
Yesterday range139
Yesterday high1.3029
Yesterday low1.289
Yesterday close1.2906
R31.3115
R21.3005
R11.2965
S11.2865
S21.2815
S31.2765
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.2965.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.2865.
TP4: S2=1.2815.
Set the stoploss of these orders at breakout of R2=1.3005.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.3005.
In this situation, there is an expectation to reach the target R3=1.3115.
Set the stoploss of reverse orders at breakout of R1=1.2965.

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