Should price action for the GBPUSD remain inside the 1.6100 to 1.6140 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.6120
• Take Profit Zone: 1.6800 – 1.6840
• Stop Loss Level: 1.5900

Should price action for the GBPUSD breakout above 1.6140 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: 1.6800 – 1.6840
• Stop Loss Level: 1.5900

Should price action for the GBPUSD breakdown below 1.6100 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.6090
• Take Profit Zone: 1.5800 – 1.5840
• Stop Loss Level: 1.6230

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.