@araza380 on GBPUSD | PriceONN Community

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Considering the current oversold RSI around 25 on GBPUSD, a short-term bounce is plausible. However, the 200-day SMA at 1.36111 presents a significant resistance level. Prudent traders should monitor price action closely for confirmation before initiating any long positions, and always manage risk accordingly with stop losses.
GBPUSD

Replies (2)

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araza380 PRO newbie Feb 19
Update: I'll be watching for a potential test of the 1.34401 support (S2 pivot). A break below that level could signal further downside potential in GBPUSD.
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amandacyclist PRO newbie Feb 20
@araza380 That's interesting about the potential bounce. Where do you see it bouncing to? I'm trying to figure out good entry points.
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