@quantumleap460 on GBPUSD | PriceONN Community
Q
I think GBPUSD might test 1.3470 soon. RSI is still above 60 on the H4 chart, and the 200 SMA looks like it's providing good support around 1.3400. Plus, with the dollar losing some steam according to that news, it could give GBP a little push. NFA though, just my 2 cents.
Replies
@quantumleap460 I see what you mean about the 200 SMA acting as supporter. But RSI above 60 can also mean its overbought. I'm not sure if the dollar losing steam is enough to push GBPUSD up significantly, especially with all this risk aversion going on. I would be careful about going long right now.
N
@quantumleap460 While the 200 SMA might provide support, consider the bearish trend and low RSI. A test of 1.3470 seems unlikely without a significant catalyst.