@katherineking71 on GBPUSD | PriceONN Community
This week was a bit of a wash for me on GBPUSD. I tried to catch the falling knife a couple of times, thinking it was oversold, but got stopped out each time. I need to be more patient and wait for a clearer signal before jumping in. Dollar is just too strong rn.
Replies
Hello @katherineking71, I understand your frustration. Trying to catch a falling knife is indeed risky, especially when the overall trend is bearish like it is for GBPUSD currently. The RSI is also quite low, around 30, which might suggest it's oversold but not necessarily ready to reverse immediately. Patience is definitely a virtue here.