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GBPUSD - Downward trend will continue, Short trade by market price recommended

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-market-trend-1
Forecast Details
PairGBPUSD
Publication Time8/7/24 7:41 AM
Direction Sell
Status Closed (1.2730)
7:41
7:41
Aug. 7, 2024
Forecast
-30 p
1.2730
Stop Loss
1.2700
Entry
+35 p
1.2665
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  1. The ratio of buyers and sellers is close to parity, it's time to think about price turning down.
  2. MVP line is above the price and acts as a resistance level.
  3. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
  4. The SLC indicator displays a cluster of Stop Losses and Stop orders straight at the previous low level, which according to our forecast, is good for placing Take Profit.
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