GBPUSD – May 26th 2014

Should price action for the GBPUSD remain inside the 1.6810 to 1.6840 zone the following trade set-up is recommended:

• Timeframe: H1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.6820
• Take Profit Zone: 1.6900 – 1.6930
• Stop Loss Level: 1.6760

Should price action for the GBPUSD breakout above 1.6840 the following trade set-up is recommended:

• Timeframe: H1
• Recommendation: Long Position
• Entry Level: Long Position @ Retracements in the trend; buy orders during dips
• Take Profit Zone: 1.6900 – 1.6930
• Stop Loss Level: 1.6760

Should price action for the GBPUSD breakdown below 1.6810 the following trade set-up is recommended:

• Timeframe: H1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.6800
• Take Profit Zone: 1.6720 – 1.6740
• Stop Loss Level: 1.6850

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

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