@ManishSharma81 on GBPUSD | PriceONN Community

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ManishSharma81 PRO newbie
GBPUSD Feb 18
GBPUSD is currently bearish. RSI below 33 indicates oversold conditions, but the downtrend is strong. I'm looking at a potential short entry near 1.3525, targeting 1.3480. Stop loss around 1.3550. Will monitor price action closely.
GBPUSD

Replies (1)

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aallen9 PRO newbie Feb 19
@ManishSharma81 That's an interesting short setup. I'm a little nervous about shorting with the RSI so low, even if the trend is bearish. Do you think the economic news coming out tomorrow could change things? I'm trying to understand how those reports can affect the pair. I'm also curious, why did you choose 1.3525 as your entry? Is it based on a specific indicator or just price action? Thnk u for your analysis btw.
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