GBPUSD resumes the last friday upward rise till 1.2700 and it has a chance to retest the level of 1.2200 , then continues it upward rally.. it can be a monthly analysis also.. based pure price action analysis.. not based on fundamentals..
As 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...
This predication can achieves in coming day ,cut the previous high its a good sign of buyer are slowly dominates, medium risk is good,use trailing stops
