Should price action for the GBPUSD remain inside the 1.5200 to 1.5230 zone the following trade set-up is recommended:
- Timeframe: H1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.5200
- Take Profit Zone: 1.5030 – 1.5050
- Stop Loss Level: 1.5285
Should price action for the GBPUSD breakdown below 1.5200 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: 1.5030 – 1.5050
- Stop Loss Level: 1.5285
Should price action for the GBPUSD breakout above 1.5230 the following trade set-up is recommended:
- Timeframe: H1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.5260
- Take Profit Zone: 1.5380 – 1.5400
- Stop Loss Level: 1.5200
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
