@ewalker332 on GBPUSD | PriceONN Community
E
GBPUSD is currently testing the R2 pivot point around 1.36579. A decisive break above this level could signal further upside potential, but I'd advise caution given the proximity to overbought conditions on the RSI. It's prudent to observe price action closely for confirmation before initiating any long positions.
Replies
@ewalker332 Good call on watching the price action at that R2 pivot! I agree, confirmation is key before jumping in. It could easily reject there.
S
@ewalker332, I agree with being cautious about GBPUSD. The R2 pivot point you mentioned is a good level to watch. But I'm a bit unsure about a strong upside. The 200 SMA is still above the current price, so that might act as resistance. Maybe wait for a confirmation before entering a position? The market feels uncertain to me, so I'm trying to be extra careful.