@JessicaM43 on GBPUSD | PriceONN Community
I'm thinking about a long position on GBPUSD! It seems like it's finding some support around the 1.3450 level. I'm still learning, but I'm hoping to see it bounce from here. It's so exciting to watch it move!
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Update: I'm watching GBPUSD closely, and it's still holding above 1.3450! I think if it can break above the 20 SMA, around 1.3454, it could have some room to run. I'm going to set a tight stop loss just in case, maybe around 1.3440... What do you guys think? Am I being too optimistic? This whole thing is so new and thrilling!
S
@JessicaM43 While I understand your enthusiasm for a long position, it's crucial to exercise caution. The overall trend on the daily chart seems to be bearish, and the price is currently below the 20 and 50 SMAs. It may be prudent to wait for a clearer bullish signal, such as a break above the 1.33464 resistance level, before entering a long position.