@ahill511 on GBPUSD | PriceONN Community

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Honestly, I'm a bit confused watching GBPUSD right now. The RSI is hovering around 60, suggesting some bullish momentum, but the price action is stuck near the 50 SMA and bouncing off the Bollinger middle band. Feels like conflicting signals, and I'm hesitant to commit to a swing trade until things clarify a bit more. Anyone else seeing this divergence?
GBPUSD

Replies (1)

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CharlieCole PRO newbie Mar 17
Hey @ahill511, I can definitely see why you're feeling conflicted with GBPUSD right now. The RSI at 65 is certainly shouting 'bullish', but you're right, price action has been rather choppy around the 1.3350 area, just shy of the 200 SMA. I've noticed that the middle Bollinger Band has been acting as a decent pivot, and we're seeing some hesitation there. Given the current volatility, perhaps waiting for a clear break above R1 at 1.33628, or a decisive rejection back towards S1 at 1.33481, would be prudent. Patience is key in these indecisive moments; forcing a trade could lead to unnecessary losses. Let's see if the NY session can provide that clarity!
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