The market has stabilized, the first signs of a downtrend appeared

August 23, 2021 5:21:52 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.374)
5:20
5:20
Aug. 23, 2021

-60 p
1.3740
Stop Loss
1.3680
Entry
+65 p
1.3615
Target 1
+90 p
1.3590
Target 2
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  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. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
  3. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  4. MVP line is above the price and acts as a resistance level.
  5. 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