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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeJune 10, 2021 - 20:26
Advisebuy (limit) above S1=1.4115
Intraday
Short term
Yesterday range79
Yesterday high1.4189
Yesterday low1.411
Yesterday close1.4115
R31.425
R21.422
R11.419
S11.4115
S21.4075
S31.3965
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.4115.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.419.
TP4: R2=1.422.
Set the stoploss of these orders at breakout of S2=1.4075.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.4075.
In this situation, there is an expectation to reach the target S3=1.3965.
Set the stoploss of reverse orders at breakout of S1=1.4115.

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