GBPUSD - Upward trend will continue, Long trade by market price recommended
November 26, 2020 10:05:14 AM
Forecast Details
PairGBPUSD
Direction
Buy
StatusClosed (1.336)
+90 p
1.3450
Target 2
+60 p
1.3420
Target 1
1.3360
Entry
-70 p
1.3290
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.
- In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in 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 - 1.342, and the second one, in case of an active price increase, is at the level - 1.345
