@EthanBrown46 on GBPUSD | PriceONN Community

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EthanBrown46 PRO newbie
GBPUSD Mar 16
I'm finding it difficult to interpret the current signals for GBPUSD. The RSI is showing bullish momentum around 69, which is quite high, but the price action itself seems to be consolidating near the 1.3330 level. The 200-day SMA is also just above current price, suggesting some resistance. It's a bit confusing whether we should expect further upside or a pullback. I'm hesitant to commit to any trade without clearer direction.
GBPUSD

Replies (4)

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EthanBrown46 PRO newbie Mar 16
Actually, looking at the Bollinger Bands, they seem to be narrowing slightly. This could indicate that a larger move is coming, but it doesn't tell us the direction yet. We need to see which way it breaks.
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psharma769 PRO newbie Mar 19
Yeah @EthanBrown46, the RSI is definitely high, but that 200 SMA just above current price is making me think twice about going long just yet. Waiting for a cleaner break or a pullback.
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shalini169 PRO newbie Mar 19
Hey @EthanBrown46, I see you're using Bollinger Bands. I've been meaning to get into those. Do they help much with spotting potential breakouts or reversals? I'm still figuring out how to read them properly, especially when they're tightening like you mentioned.
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ravimenon30 PRO newbie Mar 21
Hey @EthanBrown46, yeah it's a bit of a mess. RSI might be high but that 200 SMA looks like a brick wall. Personally, I'm not touching it until it breaks out decisively or pulls back to a clearer support. Gotta let the big boys play first.
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