Should price action for the GBPUSD remain inside the 1.5400 to 1.5475 zone the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Long Position
- Entry Level: Long Position @ 1.5415
- Take Profit Zone: 1.5750 – 1.5800
- Stop Loss Level: 1.5275
Should price action for the GBPUSD breakout above 1.5475 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: 1.5750 – 1.5800
- Stop Loss Level: 1.5275
Should price action for the GBPUSD breakdown below 1.5400 the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Short Position
- Entry Level: Short Position @ 1.5375
- Take Profit Zone: 1.5250 – 1.5275
- Stop Loss Level: 1.5475
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
