The market has stabilized, the first signs of an uptrend appeared

January 29, 2021 7:28:22 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Buy
StatusClosed (1.374)
7:26
7:26
Jan. 29, 2021

+110 p
1.3800
Target 2
+75 p
1.3765
Target 1
1.3690
Entry
-70 p
1.3620
Stop Loss
Chart & Analyst Comments
The market has stabilized, the first signs of an uptrend appeared
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  2. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. MVP line is below the price and acts as a support level.
  4. The first target is at the level of the previous peak - 1.3765, and the second one, in case of an active price increase, is at the level - 1.38