@amelia5343 on GBPUSD | PriceONN Community

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amelia5343 PRO newbie
GBPUSD Mar 17
I'm finding GBPUSD quite perplexing at the moment. The price action is showing some bullish signs, especially with the RSI above 60, yet we're still hovering below that 200-day SMA. It feels like conflicting signals are everywhere, and I'm hesitant to commit to a significant position until the picture becomes clearer. Is anyone else experiencing this indecision?
GBPUSD

Replies (3)

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amelia5343 PRO newbie Mar 17
Perhaps the key is to wait for a clear break of either the 200-day SMA or a significant support level, as mentioned by @MichaelSailor. Trying to force a trade when the indicators aren't aligned is precisely how one gets caught out. I'll be watching for a decisive move above 1.3360 or a clear rejection and fall back towards the 1.3300 area before considering my next step.
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amelia5343 PRO newbie Mar 17
Further to my previous comment, I've been re-examining the Bollinger Bands as well. They're quite wide, suggesting volatility, but the price is currently sitting right on the middle band. This could indicate consolidation, or a potential breakout point. The question remains, which direction will it favour? It's difficult to make a call with this much ambiguity.
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GregoryWalker PRO newbie Mar 23
@amelia5343 I understand the hesitation with the conflicting signals. The price is indeed sitting right on that middle Bollinger Band. I'm looking at the 200 SMA as a key level too, but the fact that the 20 and 50 SMAs are above the price is concerning for bulls.
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