GBPUSD - Upward trend will continue, Long trade by market price recommended

December 1, 2022 7:06:11 AM by Alex Zarevich
Forecast Details
PairGBPUSD
Direction Buy
StatusClosed (1.2180)
7:06
7:06
Dec. 1, 2022

+75 p
1.2180
Target 1
1.2105
Entry
-70 p
1.2035
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on GBPUSD. As a result, we recommend considering only Long trades at this time.
  2. The Ratios indicator shows the change in the ratio of market players towards sellers. Their increase while the uptrend may indicate the activity of averaging traders. This can serve as "fuel" for further uptrend.
  3. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  5. The given Stop Losses of market participants are on the same level as the previous high, which will serve as the target for our trade.
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