GBPUSD - Downward trend will continue, Short trade by market price recommended

July 1, 2019 5:30:16 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.263)
5:29
5:29
Jul. 1, 2019

-55 p
1.2735
Stop Loss
1.2680
Entry
+50 p
1.2630
Target 1
Chart & Analyst Comments
GBPUSD - Downward trend will continue, Short trade by market price recommended
  1. The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
  2. The activity of "fresh" buyers in an uptrend may indicate that the market expects the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. Here is the crucial stop loss level to serve as a goal for our Sell trade idea.