Should price action for the GBPUSD remain inside the 1.6600 to 1.6650 zone the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position @ 1.6640
• Take Profit Zone: 1.6940 – 1.6970
• Stop Loss Level: 1.6540

Should price action for the GBPUSD breakout above 1.6650 the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position @ Retracements in the trend; buy orders during dips
• Take Profit Zone: 1.6940 – 1.6970
• Stop Loss Level: 1.6540

Should price action for the GBPUSD breakdown below 1.6600 the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position @ 1.6575
• Take Profit Zone: 1.6500 – 1.6525
• Stop Loss Level: 1.6600

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

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