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

December 8, 2020 8:22:19 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Buy
StatusClosed (1.3425)
8:20
8:20
Dec. 8, 2020

+95 p
1.3425
Target 2
+70 p
1.3400
Target 1
1.3330
Entry
-75 p
1.3255
Stop Loss
Chart & Analyst Comments
GBPUSD - Upward trend will continue, Long trade by market price recommended
  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. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. MVP line is below the price and acts as a support level.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  5. The SLC indicator displays the levels where there are Stop Losses acting as targets for our trading idea.