The market has stabilized, the first signs of a downtrend appeared

August 1, 2019 6:00:55 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.211)
5:53
5:53
Aug. 1, 2019

-69 p
1.2225
Stop Loss
1.2155
Entry
+70 p
1.2085
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on GBPUSD. As a result, we recommend considering going only short at this time.
  2. 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.
  3. Price increase is accompanied by reversal signals for Profit Ratio.
  4. The price decrease will be accompanied by trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for downward movement.