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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeNovember 24, 2021 - 00:48
Advisesell (limit) below R1=1.34
Intraday
Short term
Yesterday range67
Yesterday high1.3409
Yesterday low1.3342
Yesterday close1.3377
R31.3485
R21.341
R11.34
S11.334
S21.332
S31.3275
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.34.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.334.
TP4: S2=1.332.
Set the stoploss of these orders at breakout of R2=1.341.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.341.
In this situation, there is an expectation to reach the target R3=1.3485.
Set the stoploss of reverse orders at breakout of R1=1.34.

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