@noah6621 on GBPUSD | PriceONN Community
Alright, I'm looking at GBPUSD here... Seems to be hovering around the 1.357 level. RSI isn't giving much away, right in the middle. I'm thinking maybe a small long position if it can break through that 1.3575 resistance? Just a thought, still learning the ropes here.
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Update: I might wait and see if it drops to the 20 SMA around 1.356 before considering a long. Seems like a safer entry point, maybe. Thoughts?
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@noah6621, I see what you're saying about the 1.357 level. However, I'm a bit cautious about a long position right now. The overall trend seems to be bearish, and the price is struggling to break above the SMAs. Also, the Bollinger Bands show the price near the lower band, which may suggest further downside. Perhaps wait for a clearer signal, like a break above the 50 SMA, before considering a long position. Just my opinion, though. What indicators are you using besides RSI?
@noah6621 I think your 1.3575 resistance level is a bit too high. The 200 SMA on the daily is around 1.3585, so that's a stronger resistance. BTW, the RSI isn't always reliable on its own. Confirm with other indicators, especially when you're still learning. Good luck!