@justin9077 on GBPUSD | PriceONN Community
J
GBPUSD seems kinda stuck, right? RSI's not giving much away. I'm still learning, so maybe I'm missing something. Anyone else feel like it's just bouncing between the SMAs? Is it worth trying to scalp small moves in this range or just wait for a breakout?
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J
update: i drew some fibonacci retracements on the chart. seems like the 38.2% level is around 1.3550. maybe a short from there if it gets up that high? idk, still pretty new at this. gotta watch the news too, might affect things...
@justin9077, I agree that GBPUSD seems stuck right now. The RSI is hovering around 60, so it's not strongly indicating overbought or oversold conditions. Scalping small moves could be an option, but be cautious due to potential whipsaws. The SMAs are quite close together, which suggests consolidation. I'd personally wait for a clear breakout above the 200-day SMA at 1.34206 or a breakdown below the 50-day SMA at 1.3353 before committing to a larger position. Patience is key in these situations.