@matthew531 on GBPUSD | PriceONN Community

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matthew531 PRO newbie
GBPUSD Feb 20
GBPUSD looks like it's still trending down. RSI is below 50, which usually means bearish momentum. I'm thinking of shorting around 1.3450 if it retraces a bit. Need to set a tight SL though, maybe like 20 pips? Still trying to figure out the best risk management for scalping.
GBPUSD

Replies (1)

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olivialevesque PRO newbie Feb 21
@matthew531, Your short idea around 1.3450 is interesting. Given the RSI and potential bearish momentum. However, ensure your SL placement accounts for potential whipsaws. A 20 pip SL might be too tight, especially considering the pair's recent volatility. Perhaps consider using ATR to determine a more appropriate SL distance.
EURUSD 1.16375 +0.06%
GBPUSD 1.34489 -0.10%
USDJPY 159.84950 -0.02%
XAUUSD 4,508.62 +0.47%
XAGUSD 74.76 -0.46%
BTCUSD 64,105 -5.16%
SP500 6,572.87 +0.74%
BRENT 97.97 -0.92%
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