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.