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

October 31, 2022 7:24:19 AM by Alex Zarevich
Forecast Details
PairGBPUSD
Direction Buy
StatusClosed (1.1510)
7:24
7:24
Oct. 31, 2022

+70 p
1.1650
Target 1
1.1580
Entry
-70 p
1.1510
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The ratio of buyers and sellers is close to parity, it's time to think about price turning up.
  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 last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  4. The risk-to-profit ratio allows us to set Take Profit for a Long trade at 1.165
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