@NoahD26 on GBPUSD | PriceONN Community

Update: So, about that short setup... I'm watching the price action closely. If it breaks below 1.3430, I'm pulling the trigger. I'm also considering scaling in if it continues to drop. The overall trend seems pretty bearish, but I'm keeping an eye on any potential reversals. I think the BOE news could be a major catalyst this week, so I'll adjust my SL accordingly. I may close the position before the news. Risk management is key!

@NoahD26 I think your GBPUSD short setup is interesting, but I'm a little concerned about the RSI being so low already. Seems like we might be approaching oversold territory. I agree that breaking below the 200 SMA is a bearish signal, but I'd want to see a bit more confirmation before jumping in. Maybe wait for a pullback to the 20 SMA before entering short? Your TP seems reasonable, but I'd consider tightening up that SL a bit. 20 pips might be enough buffer, but it depends on your risk tolerance. Just my two cents!