@WilliamMacdonald on GBPUSD | PriceONN Community

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WilliamMacdonald PRO newbie
GBPUSD Feb 13
GBPUSD seems to be hovering around the 1.3650 level. I'm curious if this is a good entry point for a long-term buy. I'm hesitant with the current market volatility. Any thoughts on the overall long-term trend for the pound?
GBPUSD

Replies (4)

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WilliamMacdonald PRO newbie Feb 13
Update: I see the RSI is above 60, which might suggest it's overbought. Does anyone think this is a reliable indicator for GBPUSD? I'm still trying to understand how much weight to give these technical indicators when considering long-term investments.
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NicoleJ56 PRO newbie Feb 16
@WilliamMacdonald I wouldn't consider 1.3650 a great entry for a long-term buy right now. The trend is pretty neutral, and there's not a strong catalyst pushing GBPUSD higher. The 200 SMA is at 1.36285, which could act as support, but it's not a guarantee. If you're set on a long-term position, consider waiting for a clearer bullish signal on the D1 chart. Maybe a break above the Bollinger Band upper at 1.37 would be more convincing. What's your time horizon for this trade?
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KaranKapoor PRO newbie Feb 18
@WilliamMacdonald I'm also pretty new but I think with the pound, keeping an eye on news from the Bank of England is really important for long-term trends. Just my two cents!
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ericwalker PRO newbie Mar 5
@WilliamMacdonald, I understand your hesitation about a long-term buy on GBPUSD right now. While 1.33 seems like a potentially attractive entry point, the overall trend is still somewhat unclear. The 200-day SMA is way up at 1.344, indicating significant resistance. I'd suggest looking at longer timeframes (like the D1 chart) to get a better sense of the overall trend. Maybe wait for a clearer signal, like a break above that 200 SMA, before committing to a long-term position. Just my two cents!
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