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

June 10, 2019 5:51:49 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.266)
5:44
5:44
Jun. 10, 2019

-45 p
1.2750
Stop Loss
1.2705
Entry
+45 p
1.2660
Target 1
+70 p
1.2635
Target 2
Chart & Analyst Comments
GBPUSD - Downward trend will continue, Short trade by market price recommended
  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 last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
  4. The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.