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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeJune 20, 2022 - 13:31
Advisebuy (limit) above S1=1.217
Intraday
Short term
Yesterday range192
Yesterday high1.2364
Yesterday low1.2172
Yesterday close1.2217
R31.2405
R21.234
R11.228
S11.217
S21.2125
S31.199
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.217.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.228.
TP4: R2=1.234.
Set the stoploss of these orders at breakout of S2=1.2125.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.2125.
In this situation, there is an expectation to reach the target S3=1.199.
Set the stoploss of reverse orders at breakout of S1=1.217.

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