Should price action for the GBPUSD remain inside the 1.5540 to 1.5580 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.5625
- Take Profit Zone: 1.6700 – 1.6800
- Stop Loss Level: 1.5125
Should price action for the GBPUSD breakout above 1.5580 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: 1.6700 – 1.6800
- Stop Loss Level: 1.5125
Should price action for the GBPUSD breakdown below 1.5540 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.5510
- Take Profit Zone: 1.5190 – 1.5240
- Stop Loss Level: 1.5580
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
