@diyer82 on GBPUSD | PriceONN Community

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diyer82
diyer82 PRO newbie
GBPUSD Feb 23
GBPUSD is looking bullish! 💪 The RSI is above 60, and we've broken above the 20-day SMA. I'm thinking of opening a long position with a target around 1.3540. What are your thoughts? 🤔🚀
GBPUSD

Replies (2)

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sunitabose16 PRO newbie Mar 2
@diyer82, I agree that GBPUSD is showing bullish signs. RSI is definitely supportive. However, I'd be cautious about targeting 1.3540 right away. There's resistance around 1.3480-1.3500 based on the Bollinger Bands. Maybe scale into the position gradually and watch for a retest of the 20-day SMA as confirmation?
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isabella7254 PRO newbie Mar 7
@diyer82, a target of 1.3540 seems ambitious, ngl. RSI is bullish but we're still below the 200 SMA on the daily. I'd be looking for a smaller TP initially, maybe around 1.3450, and then reassess. Don't want to get caught out if it reverses.
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