@ethan_m18 on GBPUSD | PriceONN Community

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I'm seeing strong bearish signals on GBPUSD right now. The price is below the 20, 50, and 200 SMAs, confirming a downtrend. RSI is also below 35, indicating oversold conditions, but I wouldn't rely on that alone for a reversal. Watching for a potential short entry on a pullback to the 1.3470-1.3480 area. Let's see what happens!
GBPUSD

Replies (1)

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E_Taylor PRO newbie Feb 21
@ethan_m18, I agree with your bearish outlook, but the RSI being oversold could signal a short-term bounce before further downside. I'd be cautious about entering a short position immediately. Maybe wait for confirmation of a rejection at that 1.3480 level you mentioned?
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