@adamwright57 on GBPUSD | PriceONN Community
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Okay, so GBPUSD is hovering around 1.3490. The 50-day SMA at 1.3475 is acting as a near-term support. I'm thinking a break below that could signal further downside, but the RSI isn't screaming 'sell' yet. Need to see how it reacts to that SMA level. Anyone else watching this?
Replies
@adamwright57, I'm definitely watching that 50-day SMA too! It's acting as a pretty significant short-term support. A break below 1.3475 could definitely open the door for a move down to the S1 pivot around 1.3478. However, I think the broader trend is still bullish, so I'm looking for a potential bounce there! I think we need to see some stronger confirmation before calling a full reversal. The RSI being neutral is a good point, and it is something that needs to be watched. Plus, news could shake things up at any moment!