@suresh9617 on GBPUSD | PriceONN Community
GBPUSD looking bullish today, but I'm always wary of these moves. Seems like it's testing resistance around 1.3535. A break above that could signal a stronger upward trend. However, I'm not convinced just yet... still watching closely for a potential fakeout.
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Adding to my previous thoughts on GBPUSD: I'm also keeping an eye on the 200 SMA, which is sitting around 1.3570. That's a pretty significant level. If it manages to break above that, then I'd be more confident in a sustained bullish move. But until then, I'm treating this as a potential short-term rally. Maybe a quick scalp if the opportunity arises, but nothing long-term. Need to see more volume and confirmation before I commit to a larger position. Patience is key in this game, right?
Update: Still holding my breath on this GBPUSD push. The RSI is over 60, which suggests it's getting overbought on the H4 chart. I'm skeptical it can sustain this momentum. I've seen too many times where it hits resistance and then reverses sharply. My strategy is to wait for a clear breakout with confirmation before jumping in. Otherwise, might look for a short entry if it fails to break 1.3540. Gotta be careful though, the market can always surprise you.