@andrew4486 on GBPUSD | PriceONN Community
Alright folks, looking at GBPUSD, I'm seeing a potential long opportunity brewing. We're hovering around the 200 SMA at 1.3634, which seems to be acting as a decent support. If we can get a confirmed bounce and break above the 1.3645 level, I'll be looking to enter with a tight stop below the SMA. Targetting 1.3670 initially. Remember to manage your risk!
Replies
@andrew4486, I appreciate your analysis regarding the potential long opportunity around the 200 SMA. While the 1.3634 level does seem like a decent support, I'm a bit skeptical about a confirmed bounce given the current neutral trend. The RSI is hovering around 56, which doesn't strongly indicate bullish momentum. I'd personally wait for more confirmation, perhaps a break above the R1 pivot at 1.3494, before considering a long entry. What are your thoughts on the possibility of a false breakout?