GBPJPY - Downward trend will continue, Short trade by market price recommended
August 26, 2019 7:15:57 PM
Forecast Details
PairGBPJPY
Direction
Sell
StatusClosed (128.65)
-110 p
130.80
Stop Loss
129.70
Entry
+104 p
128.65
Target 1
+159 p
128.10
Target 2
About Author
Patrick Yang
Expert
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Total votes: 5
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Chart & Analyst Comments
- Analyzing the ratio of the trader positions, we see a formed signal that confirms our sell forecast.
- The activity of "fresh" buyers in an uptrend may indicate that the market is waiting for the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
- MVP line is above the price and acts as a resistance level.
- Visually assessing the ratio of buyers and sellers, we see that retail buyers dominate on the market. This fact swings trades in favor of sell orders.