Should price action for the GBPUSD remain inside the 1.4925 to 1.4975 zone the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Long Position
- Entry Level: Long Position @ 1.4960
- Take Profit Zone: 1.5525 – 1.5575
- Stop Loss Level: 1.4800
Should price action for the GBPUSD breakout above 1.4975 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: 1.5525 – 1.5575
- Stop Loss Level: 1.4800
Should price action for the GBPUSD breakdown below 1.4925 the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Short Position
- Entry Level: Short Position @ 1.4890
- Take Profit Zone: 1.4700 – 1.4775
- Stop Loss Level: 1.4975
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
