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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeJuly 30, 2015 - 19:28
Advisesell (limit) below R1=1.563
Intraday
Short term
Yesterday range102
Yesterday high1.5689
Yesterday low1.5587
Yesterday close1.5604
R31.573
R21.5645
R11.563
S11.5555
S21.5535
S31.55
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.563.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.5555.
TP4: S2=1.5535.
Set the stoploss of these orders at breakout of R2=1.5645.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.5645.
In this situation, there is an expectation to reach the target R3=1.573.
Set the stoploss of reverse orders at breakout of R1=1.563.

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