Should price action for the GBPUSD remain inside the 1.5980 to 1.6020 zone the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Long Position
- Entry Level: Long Position @ 1.6000
- Take Profit Zone: 1.6240 – 1.6280
- Stop Loss Level: 1.5860
Should price action for the GBPUSD breakout above 1.6020 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: 1.6240 – 1.6280
- Stop Loss Level: 1.5860
Should price action for the GBPUSD breakdown below 1.5980 the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Short Position
- Entry Level: Short Position @ 1.5970
- Take Profit Zone: 1.5870 – 1.5900
- Stop Loss Level: 1.6020
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
