Currency pair GBPUSD is ready for retracement, Bulls come into play

January 31, 2019 6:46:12 AM by Alexander Zorevyk
Forecast Details
PairGBPUSD
Direction Buy
StatusClosed (1.3155)
6:16
6:00
Jan. 31, 2019

+29 p
1.3155
Target 1
1.3125
Entry
-35 p
1.3090
Stop Loss
Chart & Analyst Comments
Currency pair GBPUSD is ready for retracement, Bulls come into play

Previous price movement provoked sellers to action, but having made a fake manoeuvre, it returned upwards. Now is a good time to enter the market with a Buy Order.

  1. Analyzing the market sentiment with Current Ratio indicator, we see a formed signal that confirms our idea of Buy Order.
  2. The Ratios indicator demonstrates a market shift towards sellers. Their increase while the downward movement may indicate a successfully triggered trap. Possible price upward reversal.
  3. The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.