@justin7871 on GBPUSD | PriceONN Community
So GBPUSD is looking kinda bearish right now 🤔. It's below all the SMAs and the RSI is under 40. I'm thinking it might drop a bit more early next week. I'm still learning how to read these charts properly, but that's what I'm seeing. Any thoughts?
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Update: I just checked the Bollinger Bands and GBPUSD is pretty close to the lower band. Maybe that means it's oversold and could bounce back up soon? 🤷♂️ I'm still not sure if I should buy a call option or wait and see what happens. Risk management is hard!
S
@justin7871 Your analysis seems reasonable. Keep an eye on price action around the pivot points; they can offer good insights. Also, watch for candlestick patterns forming near the 20 SMA for possible confirmation.