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 only Short trades 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. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
  4. MVP line is above the price and acts as a resistance level.
  5. We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.