@mhall206 on GBPUSD | PriceONN Community

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mhall206 PRO newbie
GBPUSD Feb 20
Okay, so looking at GBPUSD right now, it's definitely showing bearish signals. RSI is heading down, and we're below the 20 SMA. I'm thinking short positions might be a good idea, targeting the S2 pivot around 1.3433 as a potential TP. What do you guys think?
GBPUSD

Replies (1)

E
eperez732 PRO newbie Feb 21
@mhall206, I see where you're coming from with the bearish signals. The RSI trending down is definitely something to watch! However, I think it's a bit premature to go all-in on short positions just yet. The price is still holding above the 50 SMA, which could act as support. I'd want to see a clear break below that level before committing to a short. Also, the S2 pivot at 1.3433 seems a bit ambitious for a TP, especially with the current market conditions. Maybe aim for something closer to S1 first? Just my two cents!
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