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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeFebruary 22, 2021 - 21:50
Advisebuy (limit) above S1=1.4005
Intraday
Short term
Yesterday range85
Yesterday high1.4036
Yesterday low1.3951
Yesterday close1.4004
R31.415
R21.412
R11.4085
S11.4005
S21.3985
S31.389
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.4005.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.4085.
TP4: R2=1.412.
Set the stoploss of these orders at breakout of S2=1.3985.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.3985.
In this situation, there is an expectation to reach the target S3=1.389.
Set the stoploss of reverse orders at breakout of S1=1.4005.

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