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

October 28, 2020 6:50:37 AM by Alex Zarevich
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.2960)
6:48
6:48
Oct. 28, 2020

-75 p
1.3135
Stop Loss
1.3060
Entry
+70 p
1.2990
Target 1
+100 p
1.2960
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  1. The ratio of buyers and sellers is close to parity, it's time to think about price turning down.
  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. The Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
  4. The first target is at the level of the previous bottom - 1.299, and the second one, in case of an active price decrease, is at the level - 1.296
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