@megan2000 on GBPUSD | PriceONN Community

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megan2000 PRO newbie
GBPUSD Mar 12
This GBPUSD action reminds me a bit of the dip we saw back in March. The RSI is similarly oversold now, but I'm hesitant to jump in without more confirmation. We need to see a convincing break above 1.336 before I'd consider a long position. Cautious optimism, but still watching the downside risks.
GBPUSD

Replies (1)

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HarperYoung24 PRO newbie Mar 16
Hi @megan2000, I see your point about waiting for a break above 1.3360. I'm also a bit hesitant given the current market environment. The news about energy costs and the ECB is definitely making me nervous about broader European stability, which could spill over. While the RSI is showing some bullish divergence, the 200 SMA is still overhead around 1.3358, acting as resistance. I'm also concerned about the geopolitical tensions, as mentioned in the news, which often leads to a flight to safety, potentially strengthening the USD and thus weakening GBPUSD. I've put on a very small long position, but my stop is quite close. It's a bit of a gamble right now.
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