Should price action for the GBPUSD remain inside the 1.5625 to 1.5660 zone the following trade set-up is recommended:
- Timeframe: H1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.5660
- Take Profit Zone: 1.5900 – 1.5925
- Stop Loss Level: 1.5525
Should price action for the GBPUSD breakout above 1.5660 the following trade set-up is recommended:
- Timeframe: H1
- Recommendation: Long Position
- Entry Level: Long Position @ Retracements in the trend; buy orders during dips
- Take Profit Zone: 1.5900 – 1.5925
- Stop Loss Level: 1.5525
Should price action for the GBPUSD breakdown below 1.5625 the following trade set-up is recommended:
- Timeframe: H1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.5600
- Take Profit Zone: 1.5400 – 1.5450
- Stop Loss Level: 1.5660
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
