GBPUSD - Downward trend will continue, Short trade by market price recommended

February 14, 2019 7:03:31 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.282)
6:06
6:00
Feb. 14, 2019

-50 p
1.2915
Stop Loss
1.2865
Entry
+44 p
1.2820
Target 1
Chart & Analyst Comments
GBPUSD - Downward trend will continue, Short trade by market price recommended
  1. 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.
  2. The Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
  3. There is an increase in Sell Orders when the price attempts to move down. We expect an upward movement to eliminate the accumulated sellers. We recommend to set Sell Limit at 1.2865.
  4. MVP line is above the price and acts as a resistance level.
  5. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous bottom. This is a good level for placing take profit according to our forecast.