@jessicawilliams on GBPUSD | PriceONN Community

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J
Anyone else watching GBPUSD consolidate around the 200 SMA? It's like watching paint dry, honestly. I'm curious to hear thoughts on whether we'll see a breakout to the upside or a breakdown to test S1. What's your take on the risk/reward at these levels?
GBPUSD

Replies (2)

J
jessicawilliams PRO newbie Feb 16
Update: I'm leaning slightly bearish, tbh. RSI is still under 50 and the overall trend feels kinda weak. I'm considering a small short position if we break below the 1.3620 level, targeting the S2 pivot. Gotta keep a tight SL, though, just in case the bulls decide to wake up. lol.
M
mscott116 PRO newbie Feb 26
@jessicawilliams Regarding the 200 SMA, I agree that consolidation is evident. A breakout above seems less likely given the prevailing bearish sentiment. A breakdown to S1 is probable, but the risk/reward may not be favorable for a short position considering the oversold RSI. Awaiting further confirmation.
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