GBPUSD - Upward trend will continue, Long trade by market price recommended

November 25, 2019 6:29:59 PM by Patrick Yang
Forecast Details
PairGBPUSD
Direction Buy
StatusClosed (1.294)
Start
End
Nov. 25, 2019
Dec. 2, 2019

+140 p
1.3025
Target 1
1.2885
Entry
-140 p
1.2745
Stop Loss
Chart & Analyst Comments
GBPUSD - Upward trend will continue, Long trade by market price recommended

For today's forecast, we recommend a Buy Order at this recommended market price - 1.2885. This idea is based on the following analysis:

  1. Analyzing the market sentiment with Current Ratio indicator, we see a formed signal that confirms our idea of Buy Order.
  2. The increase in sellers is observed both in the upward movement and in the retracement movements. Retail traders still believe in the possibility of price decrease.
  3. Here we see an accumulation of sellers "locked" with a loss positions. We consider this zone as a support.