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 Ratios indicator, which is used to quickly assess market sentiment, currently signals sell.
  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. 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 trading idea.