@kadebayo588 on GBPUSD | PriceONN Community
K
Cable's momentum is clearly bearish. RSI confirms. Price action struggling below the 20 SMA, further downside likely. Targeting S1 at 1.34813 initially. Watch for potential bounce, but overall trend favors shorts.
Replies
@kadebayo588 I see what you're saying about the bearish momentum, but I'm not entirely convinced. Yes, it's struggling below the 20 SMA, but the RSI is barely below 50. Plus, look at the overnight range – it's tiny. It feels more like consolidation than a genuine downtrend. I think waiting for a clearer signal at either R1 or S1 is the smarter play. Shorting now feels like chasing the market, and with my scalping strategy, I need high probability setups, not just guesses based on current sentiment. I'm still leaning bullish, but I'm keeping a close eye on those pivot levels.