@JosephGreen80 on GBPUSD | PriceONN Community
Well, stopped out on my GBPUSD short from yesterday. Took a small loss, but that's trading 🤷♂️. Was hoping for a bigger drop with the BOE news but it just didn't materialize. Gonna grab some lunch and re-evaluate later. Maybe look for a long if it bounces off this oversold RSI level. 🤔
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Okay, so after lunch, I'm thinking this GBPUSD dip might be a decent buying opportunity. RSI is oversold, price is near S2 pivot, and that 200 SMA on the daily is looming above like a juicy TP target. But, gotta be careful. The overall trend is still bearish, and that Iran war oil shock recent news is making everything volatile. I'll watch for a confirmation candle on the H1 chart before entering a long position. Maybe a break above 1.32554 (R1) would be a decent trigger. SL just below S2, around 1.3200. Gotta manage risk, especially with all this uncertainty in the market. 🧐 What do you guys think?
actually, looking at the D1 chart, that 200 SMA is right above... could be a good target if this thing actually does reverse. 📈