GBPUSD - Downward trend will continue, Short trade by market price recommended
October 1, 2019 5:47:35 AM
Forecast Details
PairGBPUSD
Direction
Sell
StatusClosed (1.2225)
-65 p
1.2355
Stop Loss
1.2290
Entry
+65 p
1.2225
Target 1
About Author
Alexander Zorevyk
Expert
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Total votes: 3
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Chart & Analyst Comments
- 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.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- The dynamics of the Ratios indicator signals for Short opportunities. Pay attention to the area marked on the image.
- MVP line is above the price and acts as a resistance level.
- We are focused on the breakdown of the previous bottom, the target at the level of 1.2225.
