Should price action for the GBPUSD remain inside the 1.6450 to 1.6490 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.6470
- Take Profit Zone: 1.6960 – 1.7000
- Stop Loss Level: 1.6280
Should price action for the GBPUSD breakout above 1.6490 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ Retracements in the trend; buy orders during dips
- Take Profit Zone: 1.6960 – 1.7000
- Stop Loss Level: 1.6280
Should price action for the GBPUSD breakdown below 1.6450 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.6440
- Take Profit Zone: 1.6200 – 1.6240
- Stop Loss Level: 1.6540
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
You may also be interested in reading the following posts: