GBPUSD - Upward trend will continue, Long trade by market price recommended
May 28, 2021 5:57:21 AM
Forecast Details
PairGBPUSD
Direction
Buy
StatusClosed (1.418)
+100 p
1.4280
Target 2
+70 p
1.4250
Target 1
1.4180
Entry
-65 p
1.4115
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 18
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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.
- The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
- In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
- The MVP indicator shows the uptrend. We take this into account as one of the important factors in today's forecast.
- The first target is at the level of the previous peak - 1.425, and the second one, in case of an active price increase, is at the level - 1.428
