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 (1.293)
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 going only short 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. A prolonged increase in the value of Open Interest speaks of possible high volatility in the near future.
  4. MVP line is above the price and acts as a resistance level.