@WLim12 on GBPUSD | PriceONN Community
GBPUSD showing bearish momentum based on current indicators. The RSI is below 31, suggesting oversold conditions, but the price continues to make lower lows. I'm seeing the price action struggling to break above the 20 SMA. Is anyone else noticing this trend?
Replies
Update: I'm also observing the pivot points. GBPUSD is currently below the pivot point of 1.34477, which further confirms the bearish bias. I'm considering a short position, but I'm hesitant due to the oversold RSI. Perhaps waiting for a slight pullback to the 1.3450 level before entering would be prudent. What are your thoughts on potential entry points given the current volatility? Also, is anyone factoring in upcoming news releases that might affect GBPUSD?