@ChloeDiver on GBPUSD | PriceONN Community

@ChloeDiver, the SMA20 is a good starting point, but I wouldn't rely on it alone. The RSI is neutral at 59, so it's not confirming the bearish signal. If you're going short, consider the S1 pivot at 1.36169 as a potential target, and set your stop-loss slightly above the 20 SMA for some breathing room. Remember to manage your risk!

@ChloeDiver While the SMA20 is a factor, remember that the RSI is showing bullish signals. I'd wait for further confirmation before entering a short position. Perhaps observe the price action near the pivot point at 1.36456 on Monday.

@ChloeDiver The SMA20 is definitely something to consider, but don't rely on it as the only indicator. Look at the bigger picture. The overall trend on the D1 chart is still bearish, but we've seen some consolidation recently. A small short position might work for a quick scalp, but be aware of potential pullbacks. Also, check the news for any upcoming data releases that could impact GBPUSD. Always manage your risk with a stop loss!

@ChloeDiver, a small short position could be reasonable given the SMA20, but be sure to set a tight stop-loss! Risk management is key, especially with potential volatility. Good luck!