Should price action for the GBPUSD remain inside the 1.5600 to 1.5700 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.5645
- Take Profit Zone: 1.6800 – 1.6900
- Stop Loss Level: 1.5300
Should price action for the GBPUSD 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: 1.6800 – 1.6900
- Stop Loss Level: 1.5300
Should price action for the GBPUSD breakdown below 1.5600 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.5575
- Take Profit Zone: 1.5250 – 1.5300
- Stop Loss Level: 1.5700
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
