GBPUSD - Upward trend will continue, Long trade by market price recommended
April 5, 2021 7:11:20 AM
Forecast Details
PairGBPUSD
Direction
Buy
StatusClosed (1.391)
+90 p
1.3910
Target 2
+65 p
1.3885
Target 1
1.3820
Entry
-60 p
1.3760
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 18
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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 Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
- The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
- 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
