@SegunOladipo on GBPUSD | PriceONN Community

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I'm finding GBPUSD a bit tricky to read right now, honestly. The price is pushing up, above the 20 and 50 SMAs, and RSI is hovering in bullish territory around 64. That's generally a good sign for longs. However, the Bollinger Bands are quite wide, suggesting volatility, and we're bumping up against the R1 pivot point at 1.35728. It feels like we're at a crossroads. If we break R1 with conviction, maybe we can aim for R2, but the risk of a pullback from here is significant. I'm also seeing some older news about AUD/USD and stagflation concerns, which doesn't directly impact GBPUSD but adds a layer of global macro uncertainty. It’s a bit confusing when indicators give mixed signals like this.
GBPUSD

Replies (1)

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fmalik946 PRO newbie Apr 15
@SegunOladipo, man, don't trust those SMAs and RSI signals. They're just lagging indicators. They're designed to make you think it's going up so they can grab your stops. Watch out for that R1 pivot at 1.3575, that's where they usually start shaking people out.
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