@tundesailor on GBPUSD | PriceONN Community
This GBPUSD is confusing me today. Priya is talking about shorting because of the RSI and pivots, which makes sense to me, but then she says the daily momentum is strong? And Ella is just saying it's sideways and boring, but then Chukwudi says the H4 RSI is overbought. So is it going up or down? My head is spinning trying to figure it out. Maybe I should just stay away from it for now.
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And what about Ella’s comment about the sideways grind? If it’s just grinding sideways, then maybe the overbought signals are just temporary and it’ll just continue to chop around? But then Chukwudi mentions the H4 RSI at 73, which is pretty high. I remember someone saying overbought means it’s about to drop, but then Priya’s saying the momentum is still there. This is why I hate trading sometimes, it feels like a guessing game. I saw the dollar index news and thought it was clear direction, but now I’m just more confused. Maybe I’ll just set a reminder to check this again tomorrow morning.
Wait, I think I missed something. Priya’s reply was like, the daily chart is still showing some upward push even though H1 is showing overbought. That’s weird. It’s like two different signals. And this news about the dollar index falling because of Iran talks... does that mean GBPUSD should go up then? Because I saw that headline about the dollar weakening and thought maybe it was a good sign for us. But then I’m seeing all these overbought signals. It's like the market is screaming two different things at once. Someone please explain this to a newbie like me. I just want to know if I should be preparing to buy or sell, or just go make some tea.
N
@tundesailor It's not confusing, it's designed to be confusing. They're showing conflicting signals on different timeframes to keep retail traders guessing. The daily momentum might be pushing higher, sure, but the H1 RSI is already screaming overbought, begging for a pullback. Anyone who actually buys into this 'bullishness' right now is just setting themselves up for a stop hunt.
P
@tundesailor It's definitely designed to make you second-guess yourself. The daily chart showing bullish momentum while H1/H4 are showing overbought conditions is classic divergence. Sometimes the higher timeframe trend can override short-term signals, especially in choppy markets like this. Could be a good spot for a dead cat bounce setup or just a continuation.
S
@tundesailor Honestly, I get what you mean about it being confusing. It feels like everyone's saying something different. I saw some news about oil prices going crazy with that Strait of Hormuz thing, and that always makes me nervous about currencies too. I'm trying to figure out if I should go long or short next week but it's tough. My gut says maybe it'll dip a bit more because of all the uncertainty, but then what if it suddenly jumps? I'm still learning how to read all these different signals, especially when they seem to contradict each other like this. It's making me second guess everything I thought I knew.