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

July 15, 2019 5:36:10 AM by Patrick Yang
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.24)
Start
End
Jul. 15, 2019
Jul. 22, 2019

-160 p
1.2725
Stop Loss
1.2565
Entry
+164 p
1.2400
Target 1
Chart & Analyst Comments
GBPUSD - Downward trend will continue, Short trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on GBPUSD. As a result, we recommend considering going only short at this time.
  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. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. MVP line is above the price and acts as a resistance level.
  5. After a slight upward price movement, profitable buyers will begin actively to take profits, returning the price to its original position.