Should price action for the GBPUSD remain inside the 1.5700 to 1.5750 zone the following trade set-up is recommended:
- Timeframe: H1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.5710
- Take Profit Zone: 1.5560 – 1.5580
- Stop Loss Level: 1.5800
Should price action for the GBPUSD breakdown below 1.5700 the following trade set-up is recommended:
- Timeframe: H1
- Recommendation: Short Position
- Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
- Take Profit Zone: 1.5560 – 1.5580
- Stop Loss Level: 1.5800
Should price action for the GBPUSD breakout above 1.5750 the following trade set-up is recommended:
- Timeframe: H1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.5770
- Take Profit Zone: 1.5900 – 1.5970
- Stop Loss Level: 1.5700
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
