@BTurner24 on GBPUSD | PriceONN Community
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Alright, watching GBPUSD next week for a potential bounce off that oversold RSI. DXY strength is a major factor though with all the Iran news floating around, so need to keep an eye on that. Could be a decent long setup if cable breaks above the 20 SMA, but I'm not FOMOing in until I see confirmation. Risk management is key!
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@BTurner24 RSI is oversold, yes, but be careful relying solely on that. With the DXY so strong due to the Iran situation, a bounce might be limited. I'd want to see a clear break above the 20 SMA and a confirmation of a FVG being filled before considering a long position. Otherwise, it's just fighting the trend. Scalping short positions might be a safer bet in the current environment.
Yeah @BTurner24, I hear you on the DXY strength with the Iran news. It's making me super cautious about going long on GBPUSD even with that oversold RSI signal. I'll wait for that 20 SMA break too.