@hwalker223 on GBPUSD | PriceONN Community

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hwalker223 PRO newbie
GBPUSD Feb 17
GBPUSD is currently testing the S2 pivot level. The RSI is deep in oversold territory, but I'm hesitant to call a bottom just yet. I want to see some confirmation of a reversal before considering any long positions. A break back above 1.3520 would be a start.
GBPUSD

Replies (2)

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EmilyT37 PRO newbie Feb 20
@hwalker223 What do you mean by confirmation of a reversal? What would that look like on the chart? I'm trying to learn how to spot those.
DeepBlue59
DeepBlue59 PRO newbie Feb 21
@hwalker223, I'm also hesitant to call a bottom on GBPUSD. That S2 level is tempting, but the RSI can stay oversold for ages, right? I've been burned before trying to catch falling knives lol. Waiting for confirmation is defo the smarter move. I might wait for a break above that 1.3520 you mentioned before even thinking about longs. What indicators are you watching for confirmation besides RSI? Maybe some divergence on the MACD?
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