GBPUSD - Downward trend will continue, Short trade by market price recommended
July 15, 2019 5:36:10 AM
Forecast Details
PairGBPUSD
Direction
Sell
StatusClosed (1.24)
-160 p
1.2725
Stop Loss
1.2565
Entry
+164 p
1.2400
Target 1
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- 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.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- MVP line is above the price and acts as a resistance level.
- After a slight upward price movement, profitable buyers actively begin to take profits, returning the price to its original position.