@blackhawk765 on GBPUSD | PriceONN Community

Update: I've noticed the RSI(14) is currently below 40, which could indicate that GBPUSD is approaching oversold conditions. However, the SMAs are still showing a bearish trend, particularly the 200-day SMA acting as resistance. I'm thinking of waiting for a clearer confirmation signal before making any significant moves. Perhaps a break above the 20-day SMA? What do you all think about using Fibonacci retracement levels in this scenario? Any insights would be greatly appreciated!