GBPUSD - Downward trend will continue, Short trade by market price recommended

June 4, 2019 5:03:22 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.27)
5:01
5:01
Jun. 4, 2019

-35 p
1.2700
Stop Loss
1.2665
Entry
+35 p
1.2630
Target 1
+70 p
1.2595
Target 2
Chart & Analyst Comments
GBPUSD - Downward trend will continue, Short trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on GBPUSD. As a result, we recommend considering only Short trades at this time.
  2. The activity of "fresh" buyers in an uptrend may indicate that the market expects the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. We are setting the take profit of our Sell Order to the closest level with a large number of stop losses.