@RajeshY64 on GBPUSD | PriceONN Community
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I'm considering a small long position near the 200 SMA at 1.34041. Given the recent BoE rate-cut scaling back, GBP could strengthen further. However, I'm keeping the position size small – only 0.5% risk – due to the overall market uncertainty and dollar strength. Will add more if it breaks 1.3420 decisively. Need to be careful.
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@RajeshY64 I see where you're coming from with the 200 SMA, but I'd be cautious about going long right now. The overall trend still seems bearish, and the RSI is below 40. A small bounce is possible, but might be worth waiting for more confirmation before committing. NFA, of course.
@RajeshY64 I agree with @aThomas9 that going long right now is risky. The bearish trend seems pretty strong. Maybe wait for a clearer reversal signal before entering a long position? RSI is still below 50, and the 200 SMA is often lagging anyway. Just my 2 cents.