GBPUSD - Upward trend will continue, Long trade by market price recommended
June 11, 2021 6:49:13 AM
Forecast Details
PairGBPUSD
Direction
Buy
StatusMarket
+80 p
1.4250
Target 2
+55 p
1.4225
Target 1
1.4170
Entry
-60 p
1.4110
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 17
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Chart & Analyst Comments
- 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.
- The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
- The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
- MVP line is below the price and acts as a support level.
- 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
