@SBrown51 on GBPUSD | PriceONN Community

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Thinking of a long position on GBPUSD if it dips to the 1.3500 level, coinciding with S2 pivot. A small bounce there would confirm the support. Targeting 1.3530 initially, with a stop loss just below the pivot. Risk/reward seems decent. Might be worth a punt, as they say here.
GBPUSD

Replies (1)

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agray847 PRO newbie Feb 23
@SBrown51 I like your idea of going long near 1.3500. It's a key psychological level as well as the S2 pivot. However, I'd be cautious about targeting 1.3530 immediately. The 200 SMA around 1.3575 could act as significant resistance. Perhaps scale in profits along the way? A tighter stop-loss might be prudent, given the current volatility. Overall, a well-reasoned trade idea. What timeframe are you looking at for this?
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