@chukwuemeka6783 on GBPUSD | PriceONN Community

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Good morning, everyone. I am observing the GBPUSD pair currently and notice the RSI is indicating oversold conditions. Considering the strong bearish trend, is anyone else anticipating a potential pullback towards the 1.3300 level before further decline? I am curious about other traders' perspectives on this possibility.
GBPUSD

Replies (2)

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chukwuemeka6783 PRO newbie Mar 3
Update: I am also monitoring the S1 pivot point at 1.32791. If the price action breaks below this level decisively, it might invalidate the pullback scenario I mentioned earlier. Need to watch closely.
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chukwuemeka6783 PRO newbie Mar 3
Another point to consider: the 20 SMA at 1.3378 is acting as resistance. A strong move above that level would certainly change my outlook. Just something to keep in mind, IMO.
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