GBPUSD - Downward trend will continue, Short trade by market price recommended
August 5, 2019 6:39:43 AM
Forecast Details
PairGBPUSD
Direction
Sell
StatusClosed (1.2055)
-130 p
1.2250
Stop Loss
1.2120
Entry
+135 p
1.1985
Target 1
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- Analyzing the market sentiment with Current Ratio indicator, we see a formed signal that confirms our idea of Sell Order.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
- 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.