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

November 4, 2019 12:36:36 PM by Patrick Yang
Forecast Details
Direction Buy
StatusClosed (1.2800)
Nov. 4, 2019
Nov. 11, 2019

+130 p
Target 1
-120 p
Stop Loss
Chart & Analyst Comments
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on GBPUSD. As a result, we recommend considering only Long trades at this time.
  2. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  4. The idea of ​​this Buy forecast is based on a long-term upntrend, which is confirmed by the MVP indicator dynamics.
  5. Here we see an accumulation of sellers "locked" with a loss positions. We consider this zone as a support.
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