GBPUSD - Upward trend will continue, Long trade by market price recommended
December 8, 2020 8:22:19 AM
Forecast Details
PairGBPUSD
Direction
Buy
StatusClosed (1.3425)
+95 p
1.3425
Target 2
+70 p
1.3400
Target 1
1.3330
Entry
-75 p
1.3255
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 0
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Chart & Analyst Comments
- 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.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- MVP line is below the price and acts as a support level.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
- The SLC indicator displays the levels where there are Stop Losses acting as targets for our trading idea.
