The market has stabilized, the first signs of a downtrend appeared
August 23, 2021 5:21:52 AM
Forecast Details
PairGBPUSD
Direction
Sell
StatusClosed (1.374)
-60 p
1.3740
Stop Loss
1.3680
Entry
+65 p
1.3615
Target 1
+90 p
1.3590
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 3
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- MVP line is above the price and acts as a resistance level.
- The first target is at the level of the previous bottom - 1.3615, and the second one, in case of an active price decrease, is at the level - 1.359
