Should price action for the GBPUSD remain inside the 1.6080 to 1.6110 zone the following trade set-up is recommended:
- Timeframe: H1
- Recommendation: Short Position
- Entry Level: Short Position 1.6090
- Take Profit Zone: 1.5860 – 1.5900
- Stop Loss Level: 1.6200
Should price action for the GBPUSD breakdown below 1.6080 the following trade set-up is recommended:
- Timeframe: H1
- Recommendation: Short Position
- Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
- Take Profit Zone: 1.5860 – 1.5900
- Stop Loss Level: 1.6200
Should price action for the GBPUSD breakout above 1.6110 the following trade set-up is recommended:
- Timeframe H1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.6120
- Take Profit Zone: 1.6270 – 1.6300
- Stop Loss Level: 1.6020
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
