GBPUSD - Downward trend will continue, Short trade by market price recommended
August 27, 2019 9:18:05 AM
Forecast Details
PairGBPUSD
Direction
Sell
StatusClosed (1.2305)
-49 p
1.2305
Stop Loss
1.2255
Entry
+55 p
1.2200
Target 1
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- Visually assessing the ratio of buyers and sellers, we see that retail buyers dominate on the market. This fact favors the Short Orders.