Okay, GBPUSD is showing a bearish trend with the RSI(14) under 40. I'm thinking of a short position, but the pivots are so close together. Maybe wait for a clearer signal below S2 at 1.34635. What are your thoughts on the short-term momentum here?
One more thing: I'm also checking the Bollinger Bands. Price is testing the lower band right now. A break below that could confirm the bearish move. Setting my TP around 1.3450. Let's see if this plays out! Good luck trading everyone.
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KevinTaylor54PROnewbieFeb 27
Update: I'm seeing some resistance around 1.3470. If it breaks below that, I'll enter a small position with a tight SL. Gotta watch the risk!