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

July 15, 2019 5:36:10 AM by Patrick Yang
Forecast Details
Direction Sell
StatusClosed (1.2400)
Jul. 15, 2019
Jul. 22, 2019

-160 p
Stop Loss
+165 p
Target 1
Chart & Analyst Comments
  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 only Short trades 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 actively begin to take profits, returning the price to its original position.
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