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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeOctober 19, 2021 - 23:37
Advisebuy (limit) above S1=1.377
Intraday
Short term
Yesterday range113
Yesterday high1.3834
Yesterday low1.3721
Yesterday close1.3793
R31.3895
R21.3855
R11.3835
S11.377
S21.376
S31.368
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.377.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.3835.
TP4: R2=1.3855.
Set the stoploss of these orders at breakout of S2=1.376.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.376.
In this situation, there is an expectation to reach the target S3=1.368.
Set the stoploss of reverse orders at breakout of S1=1.377.

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