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

May 7, 2020 6:51:10 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.23)
6:46
6:46
May 7, 2020

-80 p
1.2460
Stop Loss
1.2380
Entry
+80 p
1.2300
Target 1
+100 p
1.2280
Target 2
Chart & Analyst Comments
GBPUSD - Downward trend will continue, Short trade by market price recommended
  1. The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
  2. The Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
  3. MVP line is above the price and acts as a resistance level.
  4. The first target is at the level of the previous bottom - 1.23, and the second one, in case of an active price decrease, is at the level - 1.228