GBPUSD - Upward trend will continue, Long trade by market price recommended
January 26, 2021 11:29:02 AM
Forecast Details
PairGBPUSD
Direction
Buy
StatusClosed (1.375)
+85 p
1.3750
Target 2
+55 p
1.3720
Target 1
1.3665
Entry
-65 p
1.3600
Stop Loss
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- 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.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- When the price decreases, a signal is formed (orange labels), which implies an upward movement.
- MVP line is below the price and acts as a support level.
- 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
