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

April 26, 2019 6:12:59 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.2865)
6:10
6:10
Apr. 26, 2019

-40 p
1.2905
Stop Loss
1.2865
Entry
+35 p
1.2830
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on GBPUSD. As a result, we recommend considering only Short trades at this time.
  2. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. The continious increase in the Open Interest value speaks of possible high volatility in the near future.
  4. MVP line is above the price and acts as a resistance level.