@O_Oluwole on GBPUSD | PriceONN Community

I am currently analyzing GBPUSD for a potential swing trade. The daily chart indicates a bearish trend, confirmed by the SMAs. However, the RSI(14) is nearing extreme oversold conditions, suggesting a possible pullback. I am considering a short position, but only after a retest of the 1.3520 level, coinciding with the 20 SMA. A tight stop-loss order just above this SMA is crucial. Alternatively, a break below the 1.3480 support could accelerate the downtrend. What are your views on risk management in this scenario?