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 market sentiment with Current Ratio indicator, we see a formed signal that confirms our idea of Sell Order.
  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 should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  4. The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.