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Intraday forecastBritish Pound / US Dollar technical chart
SymbolGBPUSD
Release TimeFebruary 10, 2016 - 21:00
Advisebuy (limit) above S1=1.445
Intraday
Short term
Yesterday range138
Yesterday high1.4515
Yesterday low1.4377
Yesterday close1.4472
R31.467
R21.46
R11.4545
S11.445
S21.443
S31.4335
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.445.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.4545.
TP4: R2=1.46.
Set the stoploss of these orders at breakout of S2=1.443.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.443.
In this situation, there is an expectation to reach the target S3=1.4335.
Set the stoploss of reverse orders at breakout of S1=1.445.

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