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

July 22, 2019 6:14:32 AM by Patrick Yang
Forecast Details
PairGBPUSD
Direction Sell
StatusClosed (1.238)
Start
End
Jul. 22, 2019
Jul. 29, 2019

-120 p
1.2620
Stop Loss
1.2500
Entry
+120 p
1.2380
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. We are seeing an increase in buy positions by market crowd, who are replenishing an already large number of "locked up" losing buy positions.
  3. Price increase is accompanied by reversal signals for Profit Ratio.
  4. MVP line is above the price and acts as a resistance level.
  5. In the right order book, we see the volume of loss buyers above the current price. This cluster can act as a resistance.