@jamesthompson51 on GBPUSD | PriceONN Community

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jamesthompson51
jamesthompson51 PRO newbie
GBPUSD Feb 27
GBPUSD is definitely showing some weakness here. The RSI is under 40, and we're below all the major SMAs. I'm cautious about jumping in too quickly though. Gotta see if this downward momentum holds, or if it's just a temporary dip. Could be a good opportunity if it breaks lower but waiting for confirmation.
GBPUSD

Replies (1)

T
thall681 PRO newbie Mar 5
@jamesthompson51 I agree with your cautious approach. The RSI being under 40 doesn't automatically mean a buy signal. It could just be the start of a deeper downtrend. I'm also seeing the price below the 50 SMA, which is another bearish signal. Waiting for confirmation is key, as you said. A break below 1.3300 would probably solidify the downward momentum. I'm setting alerts there. Could be a good short opportunity if it happens.
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