GBPUSD - Downward trend will continue, Short trade by market price recommended

August 5, 2019 6:39:43 AM by Patrick Yang
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.2055)
Start
End
Aug. 5, 2019
Aug. 12, 2019

-130 p
1.2250
Stop Loss
1.2120
Entry
+135 p
1.1985
Target 1
Chart & Analyst Comments
GBPUSD - Downward trend will continue, Short trade by market price recommended
  1. Analyzing the ratio of the trader positions, we see a formed signal that confirms our sell forecast.
  2. The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. Stop loss is properly taken out of the buyers cluster. If the price passes it, it is very likely to go on.
  4. The price decrease will be accompanied by trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for downward movement.