@RyanThompson on GBPUSD | PriceONN Community
GBPUSD looking like a solid short opportunity imo. The trend is clearly down on the daily chart, and the SMAs confirm that. I'm eyeing a potential entry around 1.3430 with a TP near 1.3400. SL would be just above the 20 SMA for some breathing room. Let's see what happens!
Replies
@RyanThompson, I concur with your assessment of a short opportunity in GBPUSD. Your entry point around 1.3430 seems reasonable, considering the 20 SMA resistance. However, I would suggest tightening your TP to around 1.3380 to account for potential volatility. The S1 pivot at 1.33522 may also serve as an area of support, so be cautious there. The overall bearish trend is undeniable, but unexpected retracements can occur. I am also considering a short position but will wait for further confirmation after the market opens. Good luck with your trade!