@emily1960 on GBPUSD | PriceONN Community
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Observing GBPUSD currently testing S2 pivot at 1.35063. RSI indicates oversold conditions, but the prevailing bearish trend suggests caution. A potential long entry could be considered upon confirmation of bullish divergence on a lower timeframe, targeting the 1.35404 level (R1) as an initial profit target. Stop-loss should be placed below the recent swing low.
Replies
@emily1960 Good catch on the potential bullish divergence. I'd be hesitant to go long just yet, though. Maybe wait for a clear break above the 20 SMA before considering a long position?