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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeOctober 27, 2020 - 20:26
Advisebuy (limit) above S1=1.3015
Intraday
Short term
Yesterday range82
Yesterday high1.3074
Yesterday low1.2992
Yesterday close1.3017
R31.3175
R21.312
R11.308
S11.3015
S21.2995
S31.2905
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.3015.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.308.
TP4: R2=1.312.
Set the stoploss of these orders at breakout of S2=1.2995.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.2995.
In this situation, there is an expectation to reach the target S3=1.2905.
Set the stoploss of reverse orders at breakout of S1=1.3015.

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