GBPUSD - the pair is about to leave the range of flat

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 range of flat

Previous price movement provoked sellers to action, but having made a fake 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 shows the change in the ratio of market players towards sellers. Their increase while the uptrend may indicate the activity of averaging traders. This can serve as "fuel" for further uptrend.
  3. The activity of "fresh" bears while the upward movement 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 Buy forecast aims to cross this line.
  5. The price increase will be accompanied by the trigger of market crowd’s stop losses, which in turn will serve as a "fuel" for the upward movement.