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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeOctober 13, 2021 - 20:46
Advisebuy (limit) above S1=1.3615
Intraday
Short term
Yesterday range69
Yesterday high1.3637
Yesterday low1.3568
Yesterday close1.3587
R31.375
R21.3715
R11.3675
S11.3615
S21.3585
S31.3485
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.3615.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.3675.
TP4: R2=1.3715.
Set the stoploss of these orders at breakout of S2=1.3585.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.3585.
In this situation, there is an expectation to reach the target S3=1.3485.
Set the stoploss of reverse orders at breakout of S1=1.3615.

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