Well, according to my limited analysis, GBPUSD is showing a bearish trend currently. RSI(14) at 35 is definitely leaning towards oversold, but the price is still below the 20, 50, and 200 SMAs. I'm thinking it might be wise to wait for a clearer signal before making any moves. Thoughts?
Update: Just noticed the price action bouncing around S2 at 1.34578... could be a potential support level, but I'm not convinced enough to jump in yet. Still watching.