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

September 7, 2022 10:50:44 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.1540)
10:50
10:50
Sep. 7, 2022

-75 p
1.1540
Stop Loss
1.1465
Entry
+75 p
1.1390
Target 1
Chart & Analyst Comments
main-sell-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. The Ratios indicator demonstrates a market shift towards buyers. Their increase while the upward movement may indicate a successfully triggered trap. Possible price downward reversal.
  3. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  4. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  5. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  6. The risk/reward ratio allows you to set Take Profit at the same level where the SLC indicator signals that there are Stop orders - 1.139
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