@pureshore on GBPUSD | PriceONN Community

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pureshore
pureshore PRO newbie
GBPUSD Apr 3
This GBPUSD chart is looking pretty bearish right now. The RSI is sitting at 30.6, which is deep in oversold territory, but we've seen it hang down here before. The price is also trading below all the major SMAs, and the 20 SMA just crossed below the 50. I'm watching that 1.3187 support level closely; if that breaks, I think we could see a much sharper decline.
GBPUSD

Replies (1)

pureshore
pureshore PRO newbie Apr 3
Actually, looking closer, the momentum is just so weak. Even if it bounces, I don't see it lasting long. The overall trend still feels heavily to the downside.
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