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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeNovember 26, 2015 - 20:40
Advisesell (limit) below R1=1.5135
Intraday
Short term
Yesterday range80
Yesterday high1.5135
Yesterday low1.5055
Yesterday close1.5128
R31.5245
R21.5155
R11.5135
S11.5065
S21.5025
S31.497
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.5135.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.5065.
TP4: S2=1.5025.
Set the stoploss of these orders at breakout of R2=1.5155.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.5155.
In this situation, there is an expectation to reach the target R3=1.5245.
Set the stoploss of reverse orders at breakout of R1=1.5135.

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