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

May 10, 2022 9:09:57 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.2245)
9:09
9:09
May 10, 2022
-100 p
1.2440
Stop Loss
1.2340
Entry
+95 p
1.2245
Target 1
Chart & Analyst Comments
main-sell-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. The Delta of the Profit Ratio indicator exceeds the threshold value of 2%. A decrease of GBPUSD price is expected.
  3. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  5. The given Stop Losses of market participants are on the same level as the previous low, which will serve as the target for our trade.
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