@LakshmiSingh on GBPUSD | PriceONN Community

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LakshmiSingh PRO newbie
GBPUSD Feb 18
GBPUSD is oversold on the RSI, but those SMAs are still looming above. I'm waiting for a clearer signal before making any moves. Might look for a bounce off the support around 1.3485, but not convinced yet. Need to see some bullish confirmation first.
GBPUSD

Replies (3)

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LakshmiSingh PRO newbie Feb 18
Update: Thinking if it breaks 1.3520, might consider a small long position. SL around 1.3470. Just a thought, still watching the charts closely. Anyone else looking at similar levels?
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zama92 PRO newbie Feb 21
@LakshmiSingh I agree that a clearer signal is needed. That 1.3485 support level is interesting, but I'm not sure it will hold. I'll be watching closely for any bullish confirmation as well.
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nycAngela2 PRO newbie Feb 28
@LakshmiSingh, I agree that waiting for a clearer signal is prudent. The RSI around 50 does suggest indecision. However, the fact that we're trading below the 50 and 200 SMAs suggests a bearish bias in the medium term. A bounce off 1.3485 is possible, but I'd be cautious about a long position without strong bullish confirmation. Perhaps waiting for a break above the 20 SMA at 1.34726 would be a more conservative approach. It may be wise to assess the D1 chart for additional clues before Monday's opening.
EURUSD 1.16105 -0.13%
GBPUSD 1.35085 -0.11%
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