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
+49 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 selling 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. Price increase is accompanied by reversal signals for Profit Ratio.
  4. These stop losses of market participants coincide with the level of the previous low. This level will serve as the target for our trade.