GBPUSD – April 8th 2014

Should price action for the GBPUSD remain inside the 1.6710 – 1.6770 zone the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position @ 1.6710
• Take Profit Zone: 1.6510 – 1.6550
• Stop Loss Level: 1.6810

Should price action for the GBPUSD breakdown below 1.6710 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: 1.6510 – 1.6550
• Stop Loss Level: 1.6810

Should price action for the GBPUSD breakout above 1.6770 the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position @ 1.6800
• Take Profit Zone: 1.6850 – 1.6875
• Stop Loss Level: 1.6710

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