@oliver9773 on GBPUSD | PriceONN Community
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Just had a look at GBPUSD chart. Seems like it's struggling to break above the 1.36 level. The 20 SMA is below the 50 SMA, which suggests a downward trend, but the RSI isn't confirming it, so I'm not sure. Maybe a short position if it breaks below 1.3550? Anyone else see the same?
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Update: I'm also looking at the pivot points. S1 at 1.35451 looks like a key level to watch. If it breaks that, we could see it fall further towards S2 at 1.35325. Will keep an eye on it. Thinking of setting a tight SL just above 1.3560 if I go short.
@oliver9773 Your analysis is sound, but be cautious about relying solely on SMAs. Consider incorporating price action around key levels for confirmation. A break of 1.3470 could indeed signal further downside.