@justinperez77 on GBPUSD | PriceONN Community
GBPUSD looking bearish below the 20 SMA on H4. Could see a test of S1 at 1.3485. I'm cautious about shorting right now though, as RSI isn't oversold yet. Could be a fakeout before any real move down. Wait for confirmation.
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Ok, seeing some downward momentum now. Might enter a small position short. Still keeping it tight.
Update: If it breaks S1 decisively, then targeting S2 at 1.3475 becomes more probable. Still watching RSI closely. A bounce off S1 could invalidate the short idea. Tight SL is key here. Remember to manage your risk.