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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeJune 24, 2022 - 01:00
Advisebuy (limit) above S1=1.219
Intraday
Short term
Yesterday range126
Yesterday high1.2295
Yesterday low1.2169
Yesterday close1.2261
R31.248
R21.2405
R11.2315
S11.219
S21.216
S31.2065
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.219.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2315.
TP4: R2=1.2405.
Set the stoploss of these orders at breakout of S2=1.216.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.216.
In this situation, there is an expectation to reach the target S3=1.2065.
Set the stoploss of reverse orders at breakout of S1=1.219.

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