@fastriver on GBPUSD | PriceONN Community
GBPUSD seems to be consolidating right now, not much decisive movement either way. RSI is hinting at bullish momentum, but it's not a strong signal. I'm watching for a breakout above R1 or a drop below S1 before making any moves. Patience is key!
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Update: I'm leaning slightly bullish now. The price is holding above the 20 SMA, and if it can break through that 50 SMA around 1.3480, we could see a nice little run-up. Setting a tight SL just in case!
I'm kinda seeing the consolidation too, @fastriver. I'm still learning about RSI, but it's cool you're using it. What's a good RSI level to look for to confirm a breakout? I'm trying to be patient but it's hard when I see all these potential moves! I might put a small buy order just above that R1 you mentioned, but I'm scared of a fakeout.