@samantha1997 on GBPUSD | PriceONN Community

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samantha1997
samantha1997 PRO newbie
GBPUSD Mar 5
The market seems to be in a risk-off mood currently. While GBPUSD is showing some bullish momentum, I am hesitant to enter a long position without further confirmation. The 200-day SMA is still significantly above the current price, which suggests a potential resistance area. I'll be monitoring the price action closely before making any decisions.
GBPUSD

Replies (1)

B
BenjaminWright58 PRO newbie Mar 6
@samantha1997 I hear you on the risk-off sentiment. That 200 SMA is looming like a dark cloud, isn't it? But sometimes, those clouds break, and the sun shines through. I'm seeing a bit of a double bottom forming on the H4, which could be a sign of reversal. Maybe wait for a confirmed break above the R1 pivot around 1.3352 before jumping in? Or just keep your powder dry, that's always a valid strategy in this crazy market. Better safe than sorry, eh?
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