@delMeena on GBPUSD | PriceONN Community
Okay, so GBPUSD is dancing around the 1.35 level, and honestly, it's giving me mixed signals. The RSI is hovering around neutral, which isn't exactly helpful. We've got the 20 SMA acting as near-term support, but the 200 SMA lurking above like a disapproving relative. I'm thinking a breakout above 1.3535 is needed to confirm a sustained bullish move, otherwise, we're just chopping wood in a range. Anyone else feeling this indecisiveness or am I just projecting my own weekend planning paralysis onto the charts? lol
Replies
@delMeena I understand your mixed signals. The RSI near neutral is indeed confusing. However, considering the news about the US and Israel military action, and the overall risk-off sentiment, I'm leaning bearish on GBPUSD. The 20 SMA might not hold for long. I'm looking at a potential break below 1.3350, targeting 1.33. Aggressively, I'd consider opening a short position now, but with a very tight stop loss above the nearest resistance at 1.3380 to avoid getting burned if there's a sudden reversal. What do you thnk?