GBPUSD – April 21st 2014
GBPUSD – April 21st 2014
Written by: PaxForex analytics dept - Monday, 21 April 2014 0 comments
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
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.