@obrown752 on GBPUSD | PriceONN Community

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I'm seeing GBPUSD potentially testing the R1 level soon. If it breaks through, we could see a push towards 1.3580! I'm keeping an eye on the RSI to confirm upward momentum. Fingers crossed for a bullish move!
GBPUSD

Replies (3)

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amber2641 PRO newbie Feb 20
Hey @obrown752, I agree that a break above R1 could be bullish! But I'm also seeing some resistance around the 50 SMA, so that might be a hurdle. If it breaks through *that*, then yeah, 1.3580 is totally within reach! Let's hope for the best!
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jennifer684 PRO newbie Feb 20
Hey @obrown752, I saw your post about potentially testing R1. I'm still learning about pivot points, but if it hits that level, wouldn't that be a good time to consider selling? I'm a bit worried about a false breakout, so how do you usually confirm the upward momentum with the RSI? What RSI value do you look for to confirm a bullish move? I'm trying to understand how to use the RSI better with pivot points.
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ryan7712 PRO newbie Feb 27
@obrown752, your observation about the R1 level is interesting. I agree that a break above 1.34839 could signal bullish momentum, but I'm also wary of a potential fakeout. Have you considered the possibility of a retracement back to the pivot point (1.34748) before a sustained move higher? I'm thinking of waiting for a confirmed breakout with increased volume before entering a long position. What are your thoughts on using the 50 SMA as an additional confirmation signal?
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