@GaneshPainter on GBPUSD | PriceONN Community

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GaneshPainter
GaneshPainter PRO newbie
GBPUSD Feb 18
Hi everyone, I am new to trading GBPUSD and was wondering what you all think about the current trend. It seems to be bearish, but the RSI is also showing as oversold. Is it possible for the price to go up soon? What are some of your thoughts on where it's headed next?
GBPUSD

Replies (2)

A
aishacoetzee54 PRO newbie Feb 21
Hi @GaneshPainter, welcome to the world of GBPUSD trading! I can understand your confusion about the current trend. While the RSI is neutral, the price is hovering around the 50 SMA, which could act as support. It's possible for the price to go up, especially if it bounces off the 50 SMA. However, it is also important to consider the overall market sentiment and any upcoming economic news that could affect the GBPUSD pair. Perhaps waiting for a clearer signal before entering a position is a good idea.
B
BravePeak38 PRO newbie Mar 6
Hey @GaneshPainter! 👋 GBPUSD can be tricky! RSI being oversold doesn't guarantee a price increase. It just means it might be due for one. Keep an eye on those SMAs and pivot points mentioned by others, they can act like support and resistance. Good luck! 👍
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