Initiating a short position on GBPUSD at 1.3380. The RSI is indicating oversold conditions, but the overall bearish trend and the proximity to S2 pivot suggest further downside. Targeting 1.3350 for a potential profit of 30 pips. Will monitor closely for any signs of reversal.
@osmith182 Interesting short position! I see what you mean about the S2 pivot. GBPUSD has been pretty bearish lately, so going short aligns with the trend. Just be mindful of potential pullbacks-this pair can be tricky. Good luck with your 30 pips target; hope it hits! Keeping a close eye on it is definitely the right move.
