In my newbie opinion 4600 is a more reasonable level to take this trade with the same -25 stop and +80 limit, otherwise your stop woul be below the highes level of the last 2 days, which atm looks quite likely to be retested. Personally however I wouldn't take this trade at all because G/U broke out of its range a few days ago set a new high just above 1.4600 and now its trading above the high of the prvious range at 1.453 which makes too unsure as to whether its still trading in range with the new high as the top resistance or wether it is establishing a trend upward. Like I said I am a newbie, so take my opinion with a tablespoon of salt. I'm actually quite curious about what the more experienced traders on this forum have to say about this set up (and the current prognosis for gbpusd).