GBPUSD - Upward trend will continue, Long trade by market price recommended
June 4, 2020 12:00:33 PM
Forecast Details
PairGBPUSD
Direction
Buy
StatusClosed (1.261)
+95 p
1.2645
Target 2
+60 p
1.2610
Target 1
1.2550
Entry
-70 p
1.2480
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 5
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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 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.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- The first target is at the level of the previous peak - 1.261, and the second one, in case of an active price increase, is at the level - 1.2645
