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

March 19, 2020 8:26:21 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.16)
8:20
8:20
Mar. 19, 2020

-89 p
1.1600
Stop Loss
1.1510
Entry
+84 p
1.1425
Target 1
Chart & Analyst Comments
GBPUSD - Downward trend will continue, Short trade by market price recommended
  1. 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.
  2. The dynamics of the Ratios indicator signals for Short opportunities. Pay attention to the area marked on the image.
  3. The idea of ​​this Sell forecast is based on a long-term downtrend, which is confirmed by the MVP indicator dynamics.
  4. Here is the crucial stop loss level to serve as a goal for our Sell trade idea.