@yogaJames on GBPUSD | PriceONN Community
The GBPUSD is currently displaying bearish momentum, trading below the 20 and 50-day SMAs. The RSI is hovering around a neutral level, indicating neither overbought nor oversold conditions. I'm closely watching the 1.3550 level as a potential support zone; a break below this could signal further downside.
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Further to my previous comment, the Bollinger Bands suggest increased volatility around the current price. I'm also noting the pivot point at 1.35599. My initial target would be the S1 pivot at 1.3557, and potentially S2 at 1.35534 if bearish momentum continues. However, I'm wary of a potential bounce off the 1.3550 support level. What are other traders' price targets and stop-loss strategies for GBPUSD today?
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@yogaJames I think the 1.3550 level you mentioned is definitely one to watch. However, I'd also keep an eye on the 200 SMA around 1.3580. If GBPUSD can't break above that, the bearish momentum might continue. I'm not convinced it will hold as support though.