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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 Time12/10/24 9:23 AM
Direction Sell
Status Closed (1.2730)
9:23
9:23
Dec. 10, 2024
Forecast
-45 p
1.2790
Stop Loss
1.2745
Entry
+45 p
1.2700
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on GBPUSD. As a result, we recommend considering only Short trades at this time.
  2. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. Here we see an accumulation of buyers "locked" with a loss positions. We consider this zone as a resistance.
  4. The SLC indicator displays the levels where there are Stop Losses acting as targets for our trading idea.
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