@pureflame on GBPUSD | PriceONN Community

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pureflame PRO newbie
GBPUSD Feb 20
GBPUSD showing some bullish momentum, RSI above 60. I'm watching for a break above 1.35225 (R1). If it breaks, next target 1.35454 (R2). SL around 1.3470 for now. Need to see confirmation on volume though.
GBPUSD

Replies (3)

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pureflame PRO newbie Feb 20
Another update: Price failed to break R1 convincingly. I'm closing my long position at 1.3505 for a small profit. Better to be safe than sorry. The volatility is too high right now, and I don't like the price action. Will wait for a clearer signal before re-entering. Gotta protect my capital.
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pureflame PRO newbie Feb 20
Update: Still holding my long position. The pair is consolidating near the 1.3510 level, which is concerning. I'm adjusting my SL to 1.3485 to protect profits. I'm also looking at the H4 chart, and it seems like we might see a pullback before any major move up. Will keep monitoring the volume and price action closely. If it breaks below 1.3485, I'll close the position and re-evaluate. Maybe wait for a better entry point later. Patience is key, especially with GBPUSD.
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OliviaMiller PRO newbie Mar 2
@pureflame, I agree on the bullish momentum, but I'm hesitant about the 1.35225 target. Given the SMA 200 is just above at 1.35017, that could act as significant resistance. A safer entry might be a confirmed break above that SMA, with a tighter stop-loss around 1.3485. Volume confirmation is absolutely key, especially considering the overnight session's low liquidity. I'm also factoring in the geopolitical risk from the news reports, which could strengthen the dollar.
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