GBPUSD – April 21st 2014

Should price action for the GBPUSD remain inside the 1.6770 to 1.6830 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.6800
• Take Profit Zone: 1.6350 – 1.6400
• Stop Loss Level: 1.6920

Should price action for the GBPUSD breakdown below 1.6770 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
• Take Profit Zone: 1.6350 – 1.6400
• Stop Loss Level: 1.6920

Should price action for the GBPUSD breakout above 1.6830 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.6840
• Take Profit Zone: 1.6960 – 1.7000
• Stop Loss Level: 1.6760

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