Should price action for the GBPUSD remain inside the 1.6080 to 1.6120 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.6100
• Take Profit Zone: 1.6730 – 1.6770
• Stop Loss Level: 1.5860

Should price action for the GBPUSD breakout above 1.6120 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: 1.6730 – 1.6770
• Stop Loss Level: 1.5860

Should price action for the GBPUSD breakdown below 1.6120 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.6110
• Take Profit Zone: 1.5830 – 1.5870
• Stop Loss Level: 1.6250

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

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