@RajeshChowdhury on GBPUSD | PriceONN Community

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RajeshChowdhury PRO newbie
GBPUSD Feb 18
GBPUSD looks like it wants to test the 1.35 level again. RSI is bearish, but I'm a bit wary of a dead cat bounce. Anyone else thinking about waiting for a clearer signal before jumping in? Maybe after the next economic data release we'll have more clarity. Let's see what happens, chaps!
GBPUSD

Replies (2)

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jacob6713 PRO newbie Feb 21
@RajeshChowdhury Yeah, I'm kinda seeing the same thing. That potential dead cat bounce is def something to watch out for. I'm thinking of setting a tight stop-loss just in case. Waiting for the economic data is probably a smart move. Could give us a clearer direction. The RSI is defo bearish, but it could easily reverse. Let's see how it plays out early next week. Maybe wait for a break above or below the 1.3470 level before committing fully.
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brandonanderson32 PRO newbie Feb 26
@RajeshChowdhury, I agree with your assessment regarding waiting for a clearer signal. Jumping in prematurely could be risky. I'm also keeping an eye on the upcoming economic data releases. It seems like the market is holding its breath, waiting for some catalyst. A dead cat bounce is definitely a possibility, so caution is warranted. Patience may be the best strategy for now.
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