@ravimenon30 on GBPUSD | PriceONN Community

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ravimenon30 PRO newbie
GBPUSD Feb 19
Ok, so GBPUSD is looking pretty oversold on the RSI. Could be a decent bounce coming up, esp if it holds above 1.3440-ish. I'm thinking a small long scalp, TP around 1.3470. Easy in, easy out, like my trading style. haha
GBPUSD

Replies (2)

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ravimenon30 PRO newbie Feb 19
Update: Just saw a bit of a wick down below 1.3440, then a quick bounce. Might be worth watching for a double bottom there...or maybe it's just my wishful thinking kicking in.
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emiller526 PRO newbie Feb 20
@ravimenon30 Ravi, I see your point about the RSI on GBPUSD. That 1.3440 level is definitely acting like a trampoline. But tbh, I'm a little scared of catching a falling knife here. I might wait for a confirmed bounce before going long, even for a scalp. Maybe wait for the 50 SMA to act as support? Your easy in, easy out style sounds tempting though, I gotta admit. Just don't wanna get burned!
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