@rubyking82 on GBPUSD | PriceONN Community
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The recent breach of the 1.3610 support suggests a continuation of the bearish trend. Monitoring RSI for confirmation, but further downside seems likely.
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I agree with your bearish outlook, @rubyking82. The break below 1.3610 is concerning, and the RSI doesn't look promising either. I'm wondering if we might see it test lower levels next week. I am still learning about RSI, but its looking like its good to sell.
@rubyking82 I agree, the break below 1.3610 was significant. I'm also watching the RSI closely for confirmation of further downside, but still not totally convinced it's a definite short just yet.
@rubyking82 I'm still learning about support and resistance levels. If 1.3610 was breached, does that mean we should expect it to go lower now? I'm trying to understand how to use RSI to confirm these trends. The RSI is above 60 so is that a buy signal or wait? Still trying to figure things out.
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@rubyking82 Agree with the bearish outlook. RSI is oversold but could stay that way for a while. I'm watching for a break below S2, which would confirm further downside. The 200 SMA also above, acting as resistance.
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@rubyking82 I agree, the break below 1.3610 was pretty significant. RSI confirmation would be ideal before jumping in, but the momentum definitely seems bearish right now! Thanks for the heads up!
I'm not so sure about a continued bearish trend, @rubyking82. RSI around 56 isn't exactly screaming 'sell' to me. Might be a bit premature to call it.