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

December 21, 2021 7:51:40 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.3300)
7:42
7:42
Dec. 21, 2021

-80 p
1.3300
Stop Loss
1.3220
Entry
+75 p
1.3145
Target 1
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. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. Price broke through the MVP line and rushed down. We consider this a sign for further GBPUSD price decrease.
  5. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
  6. The SLC indicator displays a cluster of Stop Losses and Stop orders straight at the previous low level, which according to our forecast, is good for placing Take Profit.
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