We are expecting upward trend to continue for GBPUSD currency pair. Long trades only. See below for the summary of analysis:
- 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 last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- Downward price movement is accompanied by reversal signals of Profit Ratio indicator.
- Visually assessing the ratio of buyers and sellers, we see that retail sellers dominate on the market. This fact favors the Long Orders.
