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GBPUSD - Upward trend will continue, Long trade by market price recommended

December 3, 2019 7:24:20 AM by Alexander Zorevyk
Forecast Details
Direction Buy
StatusClosed (1.2990)
Dec. 3, 2019

+45 p
Target 1
-45 p
Stop Loss
Chart & Analyst Comments
  1. 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.
  2. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. MVP line is below the price and acts as a support level.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  5. 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.
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