@WilliamMacdonald on GBPUSD | PriceONN Community

Update: I see the RSI is above 60, which might suggest it's overbought. Does anyone think this is a reliable indicator for GBPUSD? I'm still trying to understand how much weight to give these technical indicators when considering long-term investments.

@WilliamMacdonald I wouldn't consider 1.3650 a great entry for a long-term buy right now. The trend is pretty neutral, and there's not a strong catalyst pushing GBPUSD higher. The 200 SMA is at 1.36285, which could act as support, but it's not a guarantee. If you're set on a long-term position, consider waiting for a clearer bullish signal on the D1 chart. Maybe a break above the Bollinger Band upper at 1.37 would be more convincing. What's your time horizon for this trade?

@WilliamMacdonald I'm also pretty new but I think with the pound, keeping an eye on news from the Bank of England is really important for long-term trends. Just my two cents!

@WilliamMacdonald, I understand your hesitation about a long-term buy on GBPUSD right now. While 1.33 seems like a potentially attractive entry point, the overall trend is still somewhat unclear. The 200-day SMA is way up at 1.344, indicating significant resistance. I'd suggest looking at longer timeframes (like the D1 chart) to get a better sense of the overall trend. Maybe wait for a clearer signal, like a break above that 200 SMA, before committing to a long-term position. Just my two cents!