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

October 1, 2019 5:47:35 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.2225)
5:45
5:45
Oct. 1, 2019

-65 p
1.2355
Stop Loss
1.2290
Entry
+65 p
1.2225
Target 1
Chart & Analyst Comments
main-sell-market-trend-1
  1. For a while now, the Current Ratio indicator provides an opportunity for Short trade. We are using this signal as a basis for today’s trading forecast.
  2. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. The dynamics of the Ratios indicator signals for Short opportunities. Pay attention to the area marked on the image.
  4. MVP line is above the price and acts as a resistance level.
  5. We are focused on the breakdown of the previous bottom, the target at the level of 1.2225.
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