Should price action for the GBPUSD remain inside the 1.5625 to 1.5675 zone the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Long Position
- Entry Level: Long Position @ 1.5625
- Take Profit Zone: 1.6925 – 1.6975
- Stop Loss Level: 1.5125
Should price action for the GBPUSD breakout above 1.5675 the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Long Position
- Entry Level: Long Position @ Retracements in the trend; buy orders during dips
- Take Profit Zone: 1.6925 – 1.6975
- Stop Loss Level: 1.5125
Should price action for the GBPUSD breakdown below 1.5625 the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Short Position
- Entry Level: Short Position @ 1.5590
- Take Profit Zone: 1.5190 – 1.5240
- Stop Loss Level: 1.5675
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
