@michael00 on GBPUSD | PriceONN Community

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michael00 PRO newbie
GBPUSD Feb 27
GBPUSD is definitely showing some bearish pressure today! Watching it closely to see if it breaks through that 1.3450 support level. If it does, we could be heading down to 1.3400 pretty quickly. I'm thinking short positions might be the way to go, but gotta wait for confirmation. Patience is key!
GBPUSD

Replies (2)

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michael00 PRO newbie Feb 27
Update: Looks like GBPUSD is struggling to hold above 1.3470 now! The RSI is still below 50, confirming the downward momentum. I'm seeing a potential entry point for a short position around 1.3465 with a tight stop loss at 1.3480. What do you guys think, too risky? Gotta manage that risk!
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smansor752 PRO newbie Mar 3
Hey @michael00, I totally agree with you about the bearish pressure! That 1.3450 level was key. I'm also watching that 1.3400 level you mentioned. If it breaks that, it could drop further. I'm thinking of waiting for a confirmed break below 1.3390 before entering a short position, just to be extra safe. What are your thoughts on using the Bollinger Bands to confirm the move? The upper band seems to be acting as resistance rn. Good luck with your trades!
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