Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.3100). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support....
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2195.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.227.
TP4: R2=1.23.
Set the stoploss of these orders at breakout of S2=1.2175.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.2195). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPUSD is in a down trend and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support....
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.294.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.29.
TP4: S2=1.2865.
Set the stoploss of these orders at breakout of R2=1.296.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.301.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.307.
TP4: R2=1.312.
Set the stoploss of these orders at breakout of S2=1.298.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2725.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2815.
TP4: R2=1.2845.
Set the stoploss of these orders at breakout of S2=1.2695.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
