@RyanHarris63 on GBPUSD | PriceONN Community
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Thinking about a long position on GBPUSD if it breaks above 1.35. The 50 SMA seems to be acting as support for now. I'm not seeing much downside risk here. Stop loss around 1.3450 maybe? I'm still learning, so any feedback is appreciated.
Replies
@RyanHarris63, a long position above 1.35 is reasonable, but be mindful of the 50 SMA acting as resistance. Your SL at 1.3450 seems adequate. However, the bearish trend might present challenges. Consider waiting for confirmation before entry to reduce risk.