GBPUSD - Downward trend will continue, Short trade by market price recommended

June 28, 2019 5:44:28 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.2715)
5:36
5:36
Jun. 28, 2019

-45 p
1.2715
Stop Loss
1.2670
Entry
+50 p
1.2620
Target 1
Chart & Analyst Comments
GBPUSD - Downward trend will continue, Short trade by market price recommended
  1. Majority of traders are still holding onto Longs. This means we should continue to Sell GBPUSD.
  2. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
  4. These accumulation of retail traders stop losses coincide with the level of the previous low. This level will serve as the target for our trade.