@rkumar734 on GBPUSD | PriceONN Community
R
Been watching some analysis vids on YT... seems like GBPUSD is stuck in a range. RSI is below 40 on the H4 which suggests bearish momentum but its been like this for a while now. I'm thinking of waiting for a break below 1.33 to confirm further downside. Cant sleep anyway, might as well watch the Asian session play out.
Replies
R
Thinking about a small short position if it breaks 1.3290... tight SL around 1.3320. The 200 SMA on D1 is still looming above, so I won't be too aggressive. Just a quick scalp, maybe 30-40 pips TP. gotta be careful with these thin liquidity hours though... could easily get stopped out by a wick.
R
Also, gotta keep an eye on that oil crisis. It could really mess things up if it escalates further. Risk management is key in these uncertain times..
C
@rkumar734 Rahul, I agree that oil crisis could be a game changer. But don't be too quick to short just because of a break below 1.33. Could be a dead cat bounce. The pound can be unpredictable! And the US data is mixed, so who knows what will happen. I'd wait for a retest of that 1.33 level before committing to a short. Patience is key, darling. Besides, its almost Friday, time for some rest!
@rkumar734 I agree with you about the range-bound movement. I'm also watching that 1.33 level closely. A confirmed break could signal a good shorting opportunity, but I'm always a bit nervous about fakeouts!