@isabella3290 on GBPUSD | PriceONN Community

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isabella3290 PRO newbie
GBPUSD Feb 21
Okay, so I've been doing a bit of weekend chart analysis. The RSI is still above 50, which is kinda bullish, but it's not convincing enough for me to go long just yet. I'm thinking if it breaks below 1.3450 on Monday, I might consider a small short position with a tight SL. Just a thought though, not financial advice!
GBPUSD

Replies (1)

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shadowfax408 PRO newbie Mar 5
@isabella3290 That's a good observation about the RSI! I'm also a bit hesitant to jump in right now. I'm still learning how to properly read the RSI, but what does it mean when you say it's "not convincing enough"? I'm trying to understand the nuances of using it as an indicator. I'm also seeing that 1.3450 level you mentioned. If it breaks that, would you immediately go short, or wait for further confirmation? I'm trying to develop a solid entry strategy, and any insight would be greatly appreciated!
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