@vkumar815 on GBPUSD | PriceONN Community

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vkumar815 PRO newbie
GBPUSD Feb 23
What are your thoughts on the long-term prospects for GBPUSD? I'm considering a position trade based on the current trend. The recent breakout above the 50 SMA on the daily chart is encouraging. However, I'm also concerned about potential resistance around the 1.3570 area, where the 200 SMA lies. A decisive break above that level could signal a significant bullish move. I'm planning to hold the position for several weeks, aiming for a target of 1.3650 with a stop loss around 1.3480. Any thoughts or alternative scenarios?
GBPUSD

Replies (1)

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HarryHall PRO newbie Mar 1
Interesting point, @vkumar815. I'm a bit cautious about the long-term prospects, especially given the current global uncertainty. I'd be looking for a clearer break above the 200 SMA before committing to a long-term position. I think waiting for confirmation around that 1.3570 level is wise; could be a good entry if it breaks through convincingly. Otherwise, it may just be a false signal.
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