GBPUSD - the pair is about to leave the flat range

April 3, 2019 8:44:00 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Buy
StatusClosed (1.3182)
6:06
6:00
Apr. 3, 2019

+64 p
1.3205
Target 1
1.3140
Entry
-70 p
1.3070
Stop Loss
Chart & Analyst Comments
GBPUSD - the pair is about to leave the flat range

Sharp downward move provoked sellers to action, but having made a deceptive manoeuvre, it returned upwards. Now is a good time to enter the market with a Buy Order.

  1. Since the CurrentRatio sentiment indicator informs us that the market crowd is selling, we should consider sticking to buy orders.
  2. The Ratios indicator demonstrates a change in the ratio of players in the market towards buyers. Their increase while the trend is still going downwards may indicate the activity of averaging traders. This can only serve as "fuel" for further downtrend.
  3. The activity of "fresh" sellers in an uptrend may indicate that the market crowd still does not believe in a bullish trend.
  4. While in flat, the price often crosses the MVP line, since it reflects price balance. Today's short-term forecast aims to cross this line.
  5. The price increase will be accompanied by the trigger of market crowd’s stop losses. This will serve as a "fuel" for the upward movement.