GBPUSD - Upward trend will continue, Long trade by market price recommended
January 14, 2021 7:22:33 AM
Forecast Details
PairGBPUSD
Direction
Buy
StatusClosed (1.3685)
+95 p
1.3720
Target 2
+60 p
1.3685
Target 1
1.3625
Entry
-60 p
1.3565
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.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- Downward price movement is accompanied by reversal signals of Profit Ratio indicator.
- MVP line is below the price and acts as a support level.
- The first target is at the level of the previous peak - 1.3685, and the second one, in case of an active price increase, is at the level - 1.372
