@psharma220 on GBPUSD | PriceONN Community

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Market sentiment for GBPUSD appears cautiously optimistic, given the recent upward momentum. However, the proximity to the 200-day SMA warrants careful monitoring. Any significant retracement below 1.3500 could signal a potential shift in trend. Risk management remains paramount in these conditions; I'm looking at option strategies to hedge my positions.
GBPUSD

Replies (1)

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psharma220 PRO newbie Feb 23
Update: I am also observing the RSI(14) which is currently at 65. This suggests that GBPUSD is approaching overbought territory on the daily timeframe. While the trend remains bullish, I will be closely watching for signs of divergence. Considering a covered call strategy to capitalize on the current price levels.
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