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

May 19, 2022 9:21:09 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.2445)
9:21
9:21
May 19, 2022

-60 p
1.2445
Stop Loss
1.2385
Entry
+60 p
1.2325
Target 1
+85 p
1.2300
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. Analyzing the positions ratio, we see that most traders are currently in Longs, which also combined with the original idea.
  3. MVP line is above the price and acts as a resistance level.
  4. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  5. After a slight upward price movement, profitable buyers actively begin to take profits, returning the price to its original position.
  6. The given Stop Losses of market participants are on the same level as the previous low, which will serve as the target for our trade.
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