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

November 19, 2019 9:09:52 PM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Buy
StatusClosed (1.292)
21:04
21:04
Nov. 19, 2019

+69 p
1.2990
Target 1
1.2920
Entry
-60 p
1.2860
Stop Loss
Chart & Analyst Comments
GBPUSD - Upward trend will continue, Long trade by market price recommended

We are expecting upward trend to continue for GBPUSD currency pair. Long trades only. See below for the summary of analysis:

  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 last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. Downward price movement is accompanied by reversal signals of Profit Ratio indicator.
  4. Visually assessing the ratio of buyers and sellers, we see that retail sellers dominate on the market. This fact favors the Long Orders.