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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeJanuary 13, 2021 - 19:42
Advisebuy (limit) above S1=1.3595
Intraday
Short term
Yesterday range166
Yesterday high1.367
Yesterday low1.3504
Yesterday close1.3663
R31.375
R21.37
R11.367
S11.3595
S21.357
S31.347
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.3595.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.367.
TP4: R2=1.37.
Set the stoploss of these orders at breakout of S2=1.357.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.357.
In this situation, there is an expectation to reach the target S3=1.347.
Set the stoploss of reverse orders at breakout of S1=1.3595.

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