GBPUSD - Downward trend will continue, Short trade by market price recommended
March 19, 2020 8:26:21 AM
Forecast Details
PairGBPUSD
Direction
Sell
StatusClosed (1.16)
-89 p
1.1600
Stop Loss
1.1510
Entry
+84 p
1.1425
Target 1
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 long positions on GBPUSD. As a result, we recommend considering only Short trades at this time.
- The dynamics of the Ratios indicator signals for Short opportunities. Pay attention to the area marked on the image.
- The idea of this Sell forecast is based on a long-term downtrend, which is confirmed by the MVP indicator dynamics.
- Here is the crucial stop loss level to serve as a goal for our Sell trade idea.