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

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-market-trend-1
Forecast Details
PairGBPUSD
Publication Time6/14/24 10:33 AM
Direction Sell
Status Closed (1.2650)
10:33
10:33
Jun. 14, 2024
Forecast
-60 p
1.2765
Stop Loss
1.2705
Entry
+55 p
1.2650
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  1. The ratio of buyers and sellers is close to parity, it's time to think about price turning down.
  2. The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
  3. Price broke through the MVP line and rushed down. We consider this a sign for further GBPUSD price decrease.
  4. 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.
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