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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeMay 12, 2022 - 21:01
Advisesell (limit) below R1=1.228
Intraday
Short term
Yesterday range163
Yesterday high1.24
Yesterday low1.2237
Yesterday close1.2249
R31.239
R21.23
R11.228
S11.2175
S21.213
S31.21
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.228.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.2175.
TP4: S2=1.213.
Set the stoploss of these orders at breakout of R2=1.23.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.23.
In this situation, there is an expectation to reach the target R3=1.239.
Set the stoploss of reverse orders at breakout of R1=1.228.

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Release Time Symbol Intraday R S
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