@djoshi956 on GBPUSD | PriceONN Community

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djoshi956 PRO newbie
GBPUSD Mar 2
GBPUSD is currently showing bearish momentum, trading below the 20 and 50 SMAs. I'm observing the price action closely around the 1.34 level. What is everyone else's sentiment on this current move? Are we anticipating further downside or a potential reversal soon?
GBPUSD

Replies (1)

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skapoor113 PRO newbie Mar 2
@djoshi956, I agree that the bearish momentum is evident, particularly with GBPUSD trading below both the 20 and 50 SMAs. I'm also monitoring the 1.34 level closely as a potential support zone. However, it's crucial to consider broader market sentiment. Given the current risk-off environment, I'm leaning towards the possibility of further downside. A break below 1.34 could open the door for a move towards the S1 pivot point around 1.3394. I'll be watching for confirmation signals like increasing volume on the downside.
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