GBPUSD - Downward trend will continue, Short trade by market price recommended
July 22, 2019 6:14:32 AM
Forecast Details
PairGBPUSD
Direction
Sell
StatusClosed (1.238)
-120 p
1.2620
Stop Loss
1.2500
Entry
+120 p
1.2380
Target 1
About Author
Patrick Yang
Expert
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Total votes: 25
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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 going only short at this time.
- We are seeing an increase in buy positions by market crowd, who are replenishing an already large number of "locked up" losing buy positions.
- Price increase is accompanied by reversal signals for Profit Ratio.
- MVP line is above the price and acts as a resistance level.
- In the right order book, we see the volume of loss buyers above the current price. This cluster can act as a resistance.