GBPUSD - Upward trend will continue, Long trade by market price recommended
August 16, 2021 5:51:44 AM
Forecast Details
PairGBPUSD
Direction
Buy
StatusClosed (1.379)
+55 p
1.3900
Target 1
1.3845
Entry
-55 p
1.3790
Stop Loss
About Author
Alexander Zorevyk
Expert
Related Links
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Total votes: 3
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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 Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
- In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
- The present level of MVP, which is below the current price, favors Buy Orders.
- In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous peak. This is a good level for placing take profit according to our forecast.
