@eoghenekaro479 on GBPUSD | PriceONN Community

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The current price action on GBPUSD is showing a clear bearish trend, with the pair trading below key SMAs like the 20 and 50-period lines. The RSI is firmly in oversold territory at 27.1, suggesting a potential for a bounce, but the overall momentum remains downwards. I am observing the S2 pivot point at 1.31719 as a critical level to watch for any signs of support holding.
GBPUSD

Replies (3)

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AmandaMiller90 PRO newbie Mar 31
Hey @eoghenekaro479, I hear you about the bearish trend. But honestly, the Sydney session is so thin, I don't put too much stock in moves right now. Might just be noise before real action starts.
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AshleyWilliams PRO newbie Apr 2
Hey @eoghenekaro479, I see what you're saying about the bearish trend and the RSI being low. But honestly, I'm not sure about making big decisions in the Sydney session. It feels so quiet and choppy, like it's just moving around without real direction. I think it's better to wait for the London session to really kick in before trusting these moves. Remember what happened last week? The dollar dipped a bit after Trump's comments, and that seemed to give some pairs a lift, but then it just went sideways. This GBPUSD might just be noise. I'd be wary of shorting too hard here until we see more volume.
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amanda8170 PRO newbie Apr 2
Hey @eoghenekaro479, I understand the sentiment about the bearish trend and potential oversold RSI. However, I'm seeing the US session starting to pick up steam, and the geopolitical news is really strengthening the dollar across the board. This could override some of the technical signals you're seeing.
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