@arjuniyer79 on GBPUSD | PriceONN Community
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The pound seems to be stuck in a rut. All the SMAs are acting as resistance overhead. 200-day SMA at 1.36186 seems like a distant dream right now. I think the market is waiting for some news catalyst to break out of this range. Could be a good opportunity for range trading, but gotta be careful with stop losses. News events can swing it either way. Plus, the RSI is just barely out of oversold territory. Maybe a slight pullback before another leg down? What do you guys think?
Replies
Yeah @arjuniyer79 feels like it's stuck. I'm seeing the same thing. News could shake things up, but who knows when that'll be, tbh. I'm just watching for now.
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@arjuniyer79 I agree! News catalyst is what GBPUSD needs to make a move. Range trading can be profitable, but the risk is always there! 😬