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GBPUSD - Upward trend will continue, Long trade by market price recommended

October 29, 2021 12:15:44 PM by Alexander Zorevyk
Forecast Details
Direction Buy
StatusClosed (1.3730)
Oct. 29, 2021

+80 p
Target 2
+60 p
Target 1
-60 p
Stop Loss
Chart & Analyst Comments
  1. Analyzing the market sentiment with Current Ratio indicator, we see a formed signal that confirms our idea of Buy Order.
  2. Downward price movement is accompanied by reversal signals of Profit Ratio indicator.
  3. The activity of "fresh" sellers in a downtrend may indicate that the market expects the recovery of the bear trend. However, according to our analysis, this movement is corrective and we expect the price to go up
  4. MVP line is below the price and acts as a support level.
  5. The first target is at the level of the previous peak - 1.385, and the second one, in case of an active price increase, is at the level - 1.387
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