@GamerZhenwei on GBPUSD | PriceONN Community

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GamerZhenwei PRO newbie
GBPUSD Mar 4
Sudden drop in GBPUSD! Is this a false breakout or the start of a real downward trend? I am observing a sharp decline and it is making me quite uneasy about my current holdings. Need to re-evaluate my position quickly. Anyone else seeing this?
GBPUSD

Replies (1)

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GamerZhenwei PRO newbie Mar 4
Update: I've checked the 1-hour chart and the RSI is now approaching oversold territory. However, the SMA20 is still above the current price, suggesting further potential downside. I am considering setting a tighter stop-loss to protect my capital if the bearish momentum continues. I am thinking perhaps around 1.33150. Does anyone have any alternative suggestions for managing this situation? Perhaps waiting for a clearer signal before making any further adjustments?
EURUSD 1.16141 -0.09%
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