GBPUSD - Upward trend will continue, Long trade by market price recommended
February 12, 2021 12:55:36 PM
Forecast Details
PairGBPUSD
Direction
Buy
StatusClosed (1.39)
+100 p
1.3900
Target 2
+65 p
1.3865
Target 1
1.3800
Entry
-80 p
1.3720
Stop Loss
About Author
Alexander Zorevyk
Expert
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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.
- When the price decreases, a signal is formed (orange labels), which implies an upward movement.
- The activity of "fresh" sellers in a downtrend may indicate that the market expects the recovery of the bear trend. However, according to our analysis, this movement is corrective and we expect the price to go up
- MVP line is below the price and acts as a support level.
- The first target is at the level of the previous peak - 1.3865, and the second one, in case of an active price increase, is at the level - 1.39
