GBPUSD WEEKLY FORECAST (13th -17th April 2020)The daily right side is down with a bearish sequence & the 4 hour right side is down with a bearish sequence against the 12/13/2019 highs at 1.3522. While above 1.2162 the pair can see some further strength to correct the cycle from the 12/13/19 highs. While below there expect the pair lower.
GBPUSD
GBPUSD Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2015.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.223.
TP4: R2=1.2275.
Set the stoploss of these orders at breakout of S2=1.197.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.197.
In this situation, there is an expectation to reach the target S3=1.178.
Set the stoploss of reverse orders at breakout of S1=1.2015.
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