GBPUSD - Upward trend will continue, Long trade by market price recommended

January 26, 2021 11:29:02 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Buy
StatusClosed (1.375)
11:27
11:27
Jan. 26, 2021

+85 p
1.3750
Target 2
+55 p
1.3720
Target 1
1.3665
Entry
-65 p
1.3600
Stop Loss
Chart & Analyst Comments
GBPUSD - Upward trend will continue, Long trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on GBPUSD. As a result, we recommend considering only Long trades at this time.
  2. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  4. MVP line is below the price and acts as a support level.
  5. The first target is at the level of the previous peak - 1.372, and the second one, in case of an active price increase, is at the level - 1.375