GBPUSD - Upward trend will continue, Long trade by market price recommended
June 5, 2020 5:17:14 AM
Forecast Details
PairGBPUSD
Direction
Buy
StatusClosed (1.266)
+95 p
1.2700
Target 2
+55 p
1.2660
Target 1
1.2605
Entry
-65 p
1.2540
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 15
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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.
- When the price decreases, a signal is formed (orange labels), which implies an upward movement.
- The increase in sellers is observed both in the upward movement and in the retracement movements. Retail traders still believe in the possibility of price decrease.
- MVP line is below the price and acts as a support level.
- The first target is at the level of the previous peak - 1.266, and the second one, in case of an active price increase, is at the level - 1.27
