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

April 24, 2019 7:12:55 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.296)
7:05
7:05
Apr. 24, 2019

-40 p
1.2960
Stop Loss
1.2920
Entry
+40 p
1.2880
Target 1
Chart & Analyst Comments
GBPUSD - Downward trend will continue, Short trade by market price recommended
  1. The Current Ratios indicator have reached critical value, too many traders expect an upward movement. In this case, we recommend selling only.
  2. A prolonged increase in the value of Open Interest speaks of possible high volatility in the near future.
  3. MVP line is above the price and acts as a resistance level.
  4. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous support. This is a good level for placing take profit according to our forecast.