@gauravshah96 on GBPUSD | PriceONN Community
Considering a short position on GBPUSD. The price is currently testing the 20-day SMA around 1.3507. A confirmed break below this level, coupled with a bearish RSI divergence, could signal further downside. Looking for a potential target around the 1.3480 level, coinciding with the S1 pivot.
Replies
Update: Initiated a small short position at 1.3505. Stop loss placed just above the 20-day SMA at 1.3515 to manage risk. Will monitor price action closely around the S1 pivot. A break below could lead to a test of the 50-day SMA in the coming days. Let's see how it unfolds.