Should price action for the GBPUSD remain inside the 1.6300 to 1.6340 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.6320
• Take Profit Zone: 1.6860 – 1.6900
• Stop Loss Level: 1.6100

Should price action for the GBPUSD breakout above 1.6340 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: 1.6860 – 1.6900
• Stop Loss Level: 1.6100

Should price action for the GBPUSD breakdown below 1.6300 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.6290
• Take Profit Zone: 1.6040 – 1.6080
• Stop Loss Level: 1.6400

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

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