@IfiokEssien57 on GBPUSD | PriceONN Community
GBPUSD looks like it might be ranging for a bit. What are your thoughts on potential breakout levels? I'm watching the 1.3540 and 1.3490 areas closely. Anyone else trading the range? Any specific indicators you're using for confirmation?
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Update: Thinking of scalping GBPUSD within the range if it holds. If price keeps bouncing between 1.3490 and 1.3540, there could be some quick profits to grab! I'll be watching the RSI on the H1 chart for overbought/oversold signals. A break below 1.3485 would invalidate this idea, so I'll set a tight SL. Anyone else see potential for short-term scalps here? Or am I missing something obvious?
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Hey @IfiokEssien57, I'm also watching those breakout levels! 1.3540 seems like a key area. If it breaks above that, it could be a good buying opportunity, imo. I'm using the RSI to confirm potential breakouts, but I'm still pretty new to this, so I'm not super confident in my analysis. The range you mentioned makes sense, though. I've been burned trying to trade breakouts before so I'm being extra cautious this time. Maybe waiting for a clear signal is the best play. What are your thoughts on using the Bollinger Bands for confirmation?