Should price action for the GBPUSD remain inside the 1.6690 to 1.6730 zone the following trade set-up is recommended:

• Timeframe: H1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.6700
• Take Profit Zone: 1.6600 – 1.6620
• Stop Loss Level: 1.6770

Should price action for the GBPUSD breakdown below 1.6690 the following trade set-up is recommended:

• Timeframe: H1
• Recommendation: Short Position
• Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
• Take Profit Zone: 1.6600 – 1.6620
• Stop Loss Level: 1.6770

Should price action for the GBPUSD breakout above 1.6730 the following trade set-up is recommended:

• Timeframe: H1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.6730
• Take Profit Zone: 1.6770 – 1.6800
• Stop Loss Level: 1.6700

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

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