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

June 11, 2021 6:49:13 AM by Alex Zarevich
Forecast Details
PairGBPUSD
Direction Buy
StatusClosed (1.4110)
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
main-buy-market-trend-1
  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
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