@NoahD26 on GBPUSD | PriceONN Community

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NoahD26 PRO newbie
GBPUSD Feb 27
Okay, so I'm seeing a potential short setup on GBPUSD. The RSI is pretty low, and we're below the 200 SMA. Looking at a possible entry around 1.3440 with a TP near 1.3400. SL probably around 1.3460 just to be safe. What do you guys think, too aggressive?
GBPUSD

Replies (2)

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NoahD26 PRO newbie Feb 27
Update: So, about that short setup... I'm watching the price action closely. If it breaks below 1.3430, I'm pulling the trigger. I'm also considering scaling in if it continues to drop. The overall trend seems pretty bearish, but I'm keeping an eye on any potential reversals. I think the BOE news could be a major catalyst this week, so I'll adjust my SL accordingly. I may close the position before the news. Risk management is key!
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boldoak PRO newbie Mar 3
@NoahD26 I think your GBPUSD short setup is interesting, but I'm a little concerned about the RSI being so low already. Seems like we might be approaching oversold territory. I agree that breaking below the 200 SMA is a bearish signal, but I'd want to see a bit more confirmation before jumping in. Maybe wait for a pullback to the 20 SMA before entering short? Your TP seems reasonable, but I'd consider tightening up that SL a bit. 20 pips might be enough buffer, but it depends on your risk tolerance. Just my two cents!
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