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

May 28, 2019 5:43:53 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.2655)
5:34
5:34
May 28, 2019

-50 p
1.2725
Stop Loss
1.2675
Entry
+45 p
1.2630
Target 1
+75 p
1.2600
Target 2
Chart & Analyst Comments
GBPUSD - Downward trend will continue, Short trade by market price recommended

We are expecting downward trend to continue for GBPUSD currency pair. Short trades only. See below for the summary of analysis:

  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. There is an increase in the number of bulls on the upward movement, followed by correction. We consider this movement as a trap for buyers and look forward for a continuation of the downtrend.
  4. This zone is of an interest of a big player. We are expecting the price decrease of GBPUSD and the achievement of this goal within the current day.