Price action for the GBPUSD - 20 june 2014

Should price action for the GBPUSD remain inside the 1.7020 to 1.7060 zone the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position @ 1.7040
• Take Profit Zone: 1.6720 – 1.6760
• Stop Loss Level: 1.7130

Should price action for the GBPUSD breakdown below 1.7020 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: 1.6720 – 1.6760
• Stop Loss Level: 1.7130

Should price action for the GBPUSD breakout above 1.7060 the following trade set-up is recommended:

• Timeframe H4
• Recommendation: Long Position
• Entry Level: Long Position @ 1.7070
• Take Profit Zone: 1.7170 – 1.7200
• Stop Loss Level: 1.7020

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