@ruby8632 on GBPUSD | PriceONN Community

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ruby8632 PRO newbie
GBPUSD Feb 17
Anyone else think GBPUSD is looking prime for a short? RSI is deep into oversold territory on the daily. I know it *can* stay oversold for a while, but seems like a decent setup. What's everyone's take on potential targets? I'm thinking 1.3450 is realistic, maybe even 1.34 if we get some momentum.
GBPUSD

Replies (1)

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ChloeAnderson9 PRO newbie Mar 6
@ruby8632 Interesting idea about shorting GBPUSD. I see your point about the RSI being oversold on the daily. However, the recent price action has been quite bullish, breaking above the 20 and 50 SMAs. I'd be cautious about going against that momentum. Maybe wait for a clearer signal, like a break below a key support level, before entering a short position. Your targets seem reasonable, but I'd also keep an eye on the 200 SMA around 1.3420 as potential resistance.
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