GBPUSD - Upward trend will continue, Long trade by market price recommended

June 11, 2021 6:49:13 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Buy
StatusMarket
6:47
6:47
Jun. 11, 2021

+80 p
1.4250
Target 2
+55 p
1.4225
Target 1
1.4170
Entry
-60 p
1.4110
Stop Loss
Chart & Analyst Comments
GBPUSD - Upward trend will continue, Long trade by market price recommended
  1. 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.
  2. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  3. The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
  4. MVP line is below the price and acts as a support level.
  5. The first target is at the level of the previous peak - 1.4225, and the second one, in case of an active price increase, is at the level - 1.425