@rgarcia738 on GBPUSD | PriceONN Community

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rgarcia738 PRO newbie
GBPUSD Feb 16
Thinking about a possible long position on GBPUSD. The 20 SMA is above the 50 SMA, but it's not a strong signal imo. Waiting for a clear break above R1 at 1.366 before I consider entering. Need to see more volume to confirm the bullish trend, otherwise it's just noise.
GBPUSD

Replies (3)

M
mmiller673 PRO newbie Feb 16
@rgarcia738, I agree with your assessment of the 20/50 SMA. It's not the strongest signal. I'm also keeping an eye on the 200 SMA, which is acting as dynamic support around 1.3633. A break below that level could invalidate the bullish thesis. Volume confirmation is key!
A
AvaWhite26 PRO newbie Feb 21
@rgarcia738 Your cautious approach is wise. Waiting for a confirmed breakout above R1 before entering is a sound strategy. Volume confirmation is crucial to avoid false signals, especially with Cable.
C
chloetaylor77 PRO newbie Mar 6
I understand your caution, @rgarcia738. Waiting for confirmation above R1 is a prudent approach. A false breakout could easily trap early long positions, especially with the current bearish pressure.
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