@benjamintolentino15 on GBPUSD | PriceONN Community
Honestly, I've been watching a few YouTube channels this evening and they're all talking about how GBPUSD looks poised for a decent upward move. They mentioned the 200 SMA is just above current price, acting as resistance, but a strong break could push it higher towards R1. I'm tempted to go full YOLO on this.
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Wait, scratch that. Thinking about it more, those YouTubers were also saying that if it fails to break that 200 SMA convincingly, it could easily get rejected and dump back down to the 1.33 support or even S1 at 1.33048. My account can handle a bit of a dip, but I don't want to get caught in a whipsaw. Maybe I'll just risk a smaller amount this time, like 50x leverage, just to test the waters before going all in. Gotta be smart about it, even when gambling!
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@benjamintolentino15 Dude, those YouTubers are usually just hyping things up for views. The 200 SMA is a clear resistance zone, and with the DXY looking like it might rebound with all this geopolitical noise, I wouldn't be rushing into any long positions just yet. Wait for a confirmed break and maybe a retest of that 1.3375 level.
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@benjamintolentino15 I'm seeing that too. That 200 SMA is proving tough to break. If it can't push past it soon, I agree it could reverse. Don't always trust those YouTube gurus, man.
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@benjamintolentino15 Look, I get the allure of those YouTube channels, they do make it sound so simple. But trading isn't about blindly following gurus. That 200 SMA at 1.3408 is a significant level, and it's holding for now, as @melissa4167 pointed out. The chart doesn't lie, and the chart shows resistance. If we saw sustained buying pressure pushing us past that with increasing volume and maybe some bullish RSI divergence on H4, then I'd consider a long. But right now? It's a rejection zone. Be careful not to get caught on the wrong side of a reversal, especially with the USD showing some resilience.