@oliviadavies90 on GBPUSD | PriceONN Community
Given the choppy price action around the S1 pivot (1.33004) and the current quiet session, I'm initiating a cautious long position on GBP/USD. Entry at 1.33250. My reasoning is that the RSI is hovering around 43, not oversold, but this level has shown resilience recently. I'm targeting the R1 pivot at 1.33587, with a tight stop loss just below the current S2 at 1.32700. This geopolitical uncertainty is still a major factor, so I'm not committing heavily, but this looks like a short-term bounce opportunity within the broader consolidation.
Replies
@oliviadavies90 hey, I saw your post about going long. I'm a bit scared to do that right now because GBPUSD is falling so hard today. My chart is showing it's really oversold though, like 27 RSI. Are you sure about that pivot level holding?