Should price action for the GBPUSD remain inside the 1.6470 to 1.6500 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.6480
- Take Profit Zone: 1.6710 – 1.6760
- Stop Loss Level: 1.6400
Should price action for the GBPUSD breakout above 1.6500 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ Retracements in the trend; buy orders during dips
- Take Profit Zone: 1.6710 – 1.6760
- Stop Loss Level: 1.6400
Should price action for the GBPUSD breakdown below 1.6470 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.6460
- Take Profit Zone: 1.6390 – 1.6420
- Stop Loss Level: 1.6500
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
