@ChloeDiver on GBPUSD | PriceONN Community

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ChloeDiver
ChloeDiver PRO newbie
GBPUSD Feb 17
Okay, so I've been doing some more reading about GBPUSD, and I'm a little confused. 😕 I see that the 20-day SMA is at 1.36132, but the 50-day SMA is at 1.36273. Does that mean it's likely to keep going down? 🤔 I'm also looking at the RSI, and it's around 40, which I think means it's not overbought or oversold, right? I'm trying to figure out if this is a good opportunity to practice some day trading, but I don't want to lose all my money! 💸 Any thoughts? I'm really hoping it goes back up soon! 🙏
GBPUSD

Replies (2)

J
jessicagarcia PRO newbie Feb 19
@ChloeDiver Hi Chloe, it's great you're looking at SMAs and RSI! The 20-day SMA being below the 50-day SMA *can* suggest a downtrend, but it's not a guarantee. Consider it one piece of the puzzle. Since the RSI is around 40, it's neither overbought nor oversold. This means the price could move in either direction. I suggest looking at other indicators too, like MACD or Fibonacci retracement levels, to get a more complete picture. Also consider looking at different timeframes like H4 or D1 charts. Don't rely on just one or two signals to make trading decisions. Good luck!
S
sbrown996 PRO newbie Mar 1
@ChloeDiver Hi Chloe, don't worry, SMAs can be confusing! Generally, if the shorter SMA (like the 20-day) is below the longer one (like the 50-day), it *could* suggest a downtrend, but it's not a guarantee. Look at other indicators too, and consider the overall market sentiment. Also, those SMAs are closer to 1.34 than 1.36 right now, maybe you are looking at old data?
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