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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeSeptember 7, 2022 - 21:00
Advisebuy (limit) above S1=1.145
Intraday
Short term
Yesterday range116
Yesterday high1.1609
Yesterday low1.1493
Yesterday close1.1519
R31.165
R21.161
R11.156
S11.145
S21.141
S31.13
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.145.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.156.
TP4: R2=1.161.
Set the stoploss of these orders at breakout of S2=1.141.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.141.
In this situation, there is an expectation to reach the target S3=1.13.
Set the stoploss of reverse orders at breakout of S1=1.145.

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