Should price action for the GBPUSD remain inside the 1.6450 to 1.6490 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.6470
• Take Profit Zone: 1.6960 – 1.7000
• Stop Loss Level: 1.6280

Should price action for the GBPUSD breakout above 1.6490 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: 1.6960 – 1.7000
• Stop Loss Level: 1.6280

Should price action for the GBPUSD breakdown below 1.6450 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.6440
• Take Profit Zone: 1.6200 – 1.6240
• Stop Loss Level: 1.6540

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

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