GBPUSD – April 28th 2014

Should price action for the GBPUSD remain inside the 1.6820 to 1.6860 zone the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position @ 1.6840
• Take Profit Zone: 1.6580 – 1.6630
• Stop Loss Level: 1.6940

Should price action for the GBPUSD breakdown below 1.6820 the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
• Take Profit Zone: 1.6580 – 1.6630
• Stop Loss Level: 1.6940

Should price action for the GBPUSD breakout above 1.6860 the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position @ 1.6870
• Take Profit Zone: 1.6990 – 1.7030
• Stop Loss Level: 1.6800

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

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