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

February 12, 2021 12:55:36 PM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Buy
StatusClosed (1.39)
12:47
12:47
Feb. 12, 2021

+100 p
1.3900
Target 2
+65 p
1.3865
Target 1
1.3800
Entry
-80 p
1.3720
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. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  3. 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
  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 - 1.3865, and the second one, in case of an active price increase, is at the level - 1.39