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

May 10, 2019 11:04:40 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.302)
10:50
10:50
May 10, 2019

-64 p
1.3080
Stop Loss
1.3015
Entry
+70 p
1.2945
Target 1
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 going only short 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. The Profit Ratio indicator is not responding to a downward movement, this means that the movement is valid.
  4. Visually assessing the ratio of buyers and sellers, we see that retail buyers dominate on the market. This fact swings trades in favor of sell orders.