@amitchowdhury29 on GBPUSD | PriceONN Community
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Okay so GBPUSD is oversold according to RSI. But the trend is still down, right? I'm thinking of a small buy position near 1.3485. Maybe it'll bounce back up a bit. What do you guys think, is it too risky to go long here? I'm just starting out so any advice would be appreciated!
Replies
@amitchowdhury29 Going long now might be a bit early! The trend is still bearish, and the price is below key moving averages. I'd wait for a stronger signal before buying. Maybe wait for a bounce off the S2 level first before considering a long position. Good luck!