Should price action for the GBPUSD remain inside the 1.5000 to 1.5100 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.5060
- Take Profit Zone: 1.6500 – 1.6600
- Stop Loss Level: 1.4700
Should price action for the GBPUSD breakout above 1.5100 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: 1.6500 – 1.6600
- Stop Loss Level: 1.4700
Should price action for the GBPUSD breakdown below 1.5000 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.4950
- Take Profit Zone: 1.4650 – 1.4700
- Stop Loss Level: 1.5100
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
