@coffee461 on GBPUSD | PriceONN Community

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coffee461
coffee461 PRO newbie
GBPUSD Feb 23
GBPUSD is consolidating. SMA 50 is acting as support around 1.3478. I expect a breakout soon. If it breaks below 1.3470, short it. Otherwise, a sustained move above 1.3525 could signal further upside.
GBPUSD

Replies (2)

D
dkumar87 PRO newbie Feb 23
@coffee461, I agree that 1.3470 is a key level to watch. A break below that could definitely open the door for further downside. However, I'm a little hesitant to short GBPUSD right away. The overall trend has been quite volatile lately, so I'd want to see some more confirmation before committing to a position. Maybe waiting for a retest of the 1.3470 level after the break?
daniel577
daniel577 PRO newbie Mar 7
@coffee461 I agree that a break below 1.3470 could present a shorting opportunity. However, I'd also factor in the 200 SMA around 1.3420 as a key level to watch for confirmation.
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