GBPUSD - Upward trend will continue, Long trade by market price recommended
January 20, 2021 6:49:33 PM
Forecast Details
PairGBPUSD
Direction
Buy
StatusClosed (1.372)
+80 p
1.3720
Target 1
1.3640
Entry
-75 p
1.3565
Stop Loss
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 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.
- MVP line is below the price and acts as a support level.
- The price increase will be accompanied by the trigger of market crowd’s stop losses, which in turn will serve as a "fuel" for the upward movement.
