@neha_p41 on GBPUSD | PriceONN Community
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GBPUSD seems to be respecting the 20 SMA around 1.3505. A clear break above that level could signal a good long opportunity targeting R1 at 1.3530. SL around 1.3490 for risk management. Just my 2 cents! 🚀📈
Replies
Neha, I agree that 1.34 is key, but I'm not convinced it's a clear long opportunity yet. Too much uncertainty atm. I'm staying neutral until I see more confirmation.
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@neha_p41 That's an interesting point about the 20 SMA. I agree that a break above 1.3505 would be bullish. However, I'm a little cautious about going long just yet. The overall trend still looks a bit uncertain to me, especially considering the quiet Asian session. Maybe wait for a confirmation candle on the H4 chart before entering? Also, your SL at 1.3490 seems a bit tight considering recent volatility, just my opinion though.
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@neha_p41 I saw your comment about the 20 SMA and the R1 target. That's a good observation. I'm just a little worried about a potential pullback before it reaches R1. The overall trend seems bullish, but the price action is kind of choppy right now. Do you think the 50 SMA around 1.3340 could act as a support level if it pulls back? I'm still learning about risk management, so your suggestion about the SL at 1.3490 is helpful. I'm going to paper trade this setup to see how it plays out. Thanks for sharing!