GBPUSD - Upward trend will continue, Long trade by market price recommended
December 3, 2019 7:24:20 AM
Forecast Details
PairGBPUSD
Direction
Buy
StatusClosed (1.299)
+45 p
1.2990
Target 1
1.2945
Entry
-45 p
1.2900
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 9
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Chart & Analyst Comments
- According to the most brokers’ data, more than half of the traders are currently in short positions on GBPUSD. As a result, we recommend considering only Long trades at this time.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- MVP line is below the price and acts as a support level.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
- These accumulation of retail traders stop losses coincide with the level of the previous high. This level will serve as the target for our trade.
