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

January 26, 2021 11:29:02 AM by Alexander Zorevyk
Forecast Details
Direction Buy
StatusClosed (1.3750)
Jan. 26, 2021

+85 p
Target 2
+55 p
Target 1
-65 p
Stop Loss
Chart & Analyst Comments
  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
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