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

November 4, 2019 12:36:36 PM by Patrick Yang
Forecast Details
PairGBPUSD
Direction Buy
StatusClosed (1.28)
Start
End
Nov. 4, 2019
Nov. 11, 2019

+129 p
1.3050
Target 1
1.2920
Entry
-120 p
1.2800
Stop Loss
Chart & Analyst Comments
GBPUSD - Upward trend will continue, Long trade by market price recommended
  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.