@amit6290 on GBPUSD | PriceONN Community
Good evening everyone. A quick observation on GBPUSD: I've noticed that the 20-day SMA is currently acting as a dynamic resistance around 1.3403. If the price fails to break above this level in the Asian session, we might see further downside movement. Just something to keep an eye on.
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Update to my previous observation: The price has indeed struggled to break above the 20 SMA. It looks like the bearish momentum is continuing. I am considering a small short position near 1.3400 with a tight stop loss, but I am still backtesting this approach. I'll observe the price action closely before committing.