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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeDecember 1, 2020 - 20:08
Advisebuy (limit) above S1=1.334
Intraday
Short term
Yesterday range80
Yesterday high1.3384
Yesterday low1.3304
Yesterday close1.3322
R31.3545
R21.3485
R11.344
S11.334
S21.3315
S31.322
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.334.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.344.
TP4: R2=1.3485.
Set the stoploss of these orders at breakout of S2=1.3315.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.3315.
In this situation, there is an expectation to reach the target S3=1.322.
Set the stoploss of reverse orders at breakout of S1=1.334.

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