Should price action for the GBPUSD remain inside the 1.6380 to 1.6410 zone the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 1.6400
• Take Profit Zone: 1.6040 – 1.6070
• Stop Loss Level: 1.6560

Should price action for the GBPUSD breakdown below 1.6380 the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
• Take Profit Zone: 1.6040 – 1.6070
• Stop Loss Level: 1.6560

Should price action for the GBPUSD breakout above 1.6410 the following trade set-up is recommended:

• Timeframe H4
• Recommendation: Long Position
• Entry Level: Long Position @ 1.6420
• Take Profit Zone: 1.6670 – 1.6700
• Stop Loss Level: 1.6300

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

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