GBPUSD – Will bulls fight back? November 21st 2014

GBPUSD – Will bulls fight back? November 21st 2014

Written by: PaxForex analytics dept - Friday, 21 November 2014 0 comments


Should price action for the GBPUSD remain inside the 1.5650 to 1.5700 zone the following trade set-up is recommended:

  • Timeframe: D1
  • Recommendation: Long Position
  • Entry Level: Long Position @ 1.5675
  • Take Profit Zone: 1.6700 – 1.6900
  • Stop Loss Level: 1.5300

Should price action for the GBPUSDUSD breakout above 1.5700 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: 1.6700 – 1.6900
  • Stop Loss Level: 1.5300

Should price action for the GBPUSD breakdown below 1.5650 the following trade set-up is recommended:

  • Timeframe: D1
  • Recommendation: Short Position
  • Entry Level: Short Position @ 1.5575
  • Take Profit Zone: 1.5275 – 1.5300
  • Stop Loss Level: 1.5700

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