GBPUSD - Upward trend will continue, Long trade by market price recommended

August 16, 2021 5:51:44 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Buy
StatusClosed (1.379)
5:41
5:41
Aug. 16, 2021

+55 p
1.3900
Target 1
1.3845
Entry
-55 p
1.3790
Stop Loss
Chart & Analyst Comments
GBPUSD - Upward trend will continue, Long trade by market price recommended
  1. 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.
  2. The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
  3. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  4. The present level of MVP, which is below the current price, favors Buy Orders.
  5. 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.