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

June 5, 2020 5:17:14 AM by Alexander Zorevyk
Forecast Details
Direction Buy
StatusClosed (1.2660)
Jun. 5, 2020

+95 p
Target 2
+55 p
Target 1
-65 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. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  3. 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.
  4. MVP line is below the price and acts as a support level.
  5. 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
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