GBPUSD - Upward trend will continue, Long trade by market price recommended
April 6, 2020 6:27:55 AM
Forecast Details
PairGBPUSD
Direction
Buy
StatusClosed (1.218)
+75 p
1.2335
Target 1
1.2260
Entry
-80 p
1.2180
Stop Loss
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- The ratio of buyers and sellers is close to parity, it's time to think about price turning up.
- The activity of "fresh" sellers in a downtrend may indicate that the market expects the recovery of the bear trend. However, according to our analysis, this movement is corrective and we expect the price to go up
- The dynamics of the Ratios indicator signals for Long opportunities. Pay attention to the area marked on the image.
- The price increase will be accompanied by the trigger of market crowd’s stop losses, which in turn will serve as a "fuel" for the upward movement.
