The market has stabilized, the first signs of a downtrend appeared
May 13, 2020 5:57:01 AM
Forecast Details
PairGBPUSD
Direction
Sell
StatusClosed (1.22)
-89 p
1.2420
Stop Loss
1.2330
Entry
+85 p
1.2245
Target 1
+130 p
1.2200
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 12
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Chart & Analyst Comments
- According to the most brokers’ data, more than half of the traders are currently in long positions on GBPUSD. As a result, we recommend considering only Short trades at this time.
- The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
- MVP line is above the price and acts as a resistance level.
- Analyzing the positions ratio, we see that most traders are currently in Longs, which also combined with the original idea.
- Here is the crucial stop loss level to serve as a goal for our Sell trade idea.
