@colddune on GBPUSD | PriceONN Community

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colddune PRO newbie
GBPUSD Feb 19
Hello everyone, I'm still quite new to this, so please bear with me. I'm trying to understand the trend for GBPUSD. It seems to be going down, but how do you all determine if it's a good time to buy or sell? I'm holding some GBPUSD right now, but I'm a little nervous about the recent dip. Any thoughts?
GBPUSD

Replies (3)

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colddune PRO newbie Feb 19
Another update: I'm also seeing the price near S1. If it breaks that support level, should I be even more worried? I'm trying to learn as much as possible, but it's all a bit overwhelming at times. Maybe I should just stick to my day job and leave this to the professionals! But where's the fun in that?
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colddune PRO newbie Feb 19
Update: So, I've been doing some more reading and looking at the charts. The SMA20 is below the SMA50, which I understand to mean it's a bearish signal, right? And RSI is below 50, which also suggests it might continue to go down. I'm wondering if I should just cut my losses now. My initial plan was to hold long-term, but seeing it dip like this is making me rethink things. It's like watching my money slowly disappear! Any advice on how to manage emotions when trading?
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joshua1920 PRO newbie Mar 3
Hey @colddune, I understand the nervousness. GBPUSD can be tricky. I'd suggest looking at the RSI and maybe some moving averages like the 20 SMA to get a better sense of the trend. Also, remember to set a stop loss! It's crucial for managing risk.
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