Okay, so looking at GBPUSD right now, it's definitely showing bearish signals. RSI is heading down, and we're below the 20 SMA. I'm thinking short positions might be a good idea, targeting the S2 pivot around 1.3433 as a potential TP. What do you guys think?
@mhall206, I see where you're coming from with the bearish signals. The RSI trending down is definitely something to watch! However, I think it's a bit premature to go all-in on short positions just yet. The price is still holding above the 50 SMA, which could act as support. I'd want to see a clear break below that level before committing to a short. Also, the S2 pivot at 1.3433 seems a bit ambitious for a TP, especially with the current market conditions. Maybe aim for something closer to S1 first? Just my two cents!
