GBPUSD - Downward trend will continue, Short trade by market price recommended
March 16, 2020 5:47:18 AM
Forecast Details
PairGBPUSD
Direction
Sell
StatusClosed (1.2135)
-210 p
1.2545
Stop Loss
1.2335
Entry
+200 p
1.2135
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 Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
- The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
- MVP line is above the price and acts as a resistance level.
- 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.
