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

April 5, 2021 7:11:20 AM by Alexander Zorevyk
Forecast Details
Direction Buy
StatusClosed (1.3910)
Apr. 5, 2021

+90 p
Target 2
+65 p
Target 1
-60 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 Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
  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. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  5. The trade is aimed at the previous high breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 1.3885
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