@fastLake1 on GBPUSD | PriceONN Community
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Okay, here's my GBPUSD trade idea! 💡 I'm thinking of going long if it breaks above the R1 pivot at 1.34958. My TP would be around 1.3510 and my SL would be just below the pivot point at 1.3480. I'm basing this on the expectation that the pair might test the R2 resistance level. I am still a bit nervous about the overall trend though. What do you all thnk? 🤔 Any input is welcome! 😊
Replies
@fastLake1 That's an interesting idea! 🤔 I like how you're using the pivot points. I'm a bit hesitant about going long right now, though. The 200 SMA on the daily chart is still way up at 1.3450-ish, which could act as strong resistance. I'd want to see a convincing break above that before considering a long position. Have you looked at any fundamental data supporting a bullish move? Maybe some news from the UK? Just trying to be cautious! 🤓