@GraceRobinson73 on GBPUSD | PriceONN Community
Okay so, GBPUSD is looking kinda oversold on the RSI right now 🤔. It's below 30, which usually means a bounce is coming, right? But the overall trend still feels bearish... I'm a bit unsure if I should try to catch a falling knife here 🔪 or wait for a clearer signal. Anyone else seeing this?
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Update: I just checked the D1 chart and it's showing a pretty strong downtrend still 📉. The SMAs are all stacked against it too, with the 20 below the 50 and 200. Maybe waiting for a pullback to the 20 SMA around 1.3605 before considering a short is the smarter move? 🤔 I'm still learning how to read these things properly, but that's what my anlaız is telling me atm. What do you guys think? Should I be looking at other indicators as well?
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@GraceRobinson73 I'm also seeing the oversold RSI, but I agree the overall trend is still a concern. Perhaps waiting for a confirmation signal, like a break above a recent high, would be prudent before entering a long position.