@junaid02 on GBPUSD | PriceONN Community

@junaid02, your analysis sounds solid. I'm just a bit wary of that RSI hovering around neutral. It's like the market's indecisive. Do you think the SMA 200 will hold as support if we see a dip below 1.3550?

@junaid02, while I agree with monitoring the SMA 200, the current bearish trend suggests caution regarding long positions. The RSI, although neutral previously, is now trending downwards. A safer approach might be to wait for a confirmed break above R1 with substantial volume before considering a long entry. Risk management is indeed paramount in this volatile environment.

@junaid02 I agree with your analysis on the GBPUSD positive trend. I see that SMA 200 as a key level too. I am a bit concerned about the RSI being neutral though. It needs to show some strength for a sustained move up. I'm thinking of waiting for a confirmed break above R1 before adding to my long position. What are your thoughts on the potential for a pullback before the breakout?

Hi @junaid02, thanks for your analysis! I'm still pretty new to this, so I'm trying to understand how the SMA200 can act as support? I see it's way up at 1.34505, and price is currently at 1.33341. Wouldn't that be resistance instead of support? 🤔 I'm a bit confused about how far away the SMA needs to be to still have an effect. Also, what RSI level would you consider confirmation of upward momentum? Anything over 50? Thanks for any help!