GBPUSD looking bearish today, eh? RSI dipping below 40, and we're testing the S1 pivot. Anyone else think this is a good short opportunity? Or are we expecting a bounce back towards the 20 SMA? Just trying to gauge the general sentiment before I commit fully. What are your thoughts?
Update: I'm seeing increasing volume on this downtrend. Might just jump in with a small position and a tight stop-loss just above the pivot. Let's see if my analysis holds up. This could be a fun ride!
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emily4400PROnewbieMar 7
I'm still learning but tbh I think it could bounce back up. The RSI isn't super low yet, is it? Maybe wait and see what happens at the 50 SMA?