@dpatel517 on GBPUSD | PriceONN Community

Further to my previous analysis, I'm also looking at the divergence between the price action and the MACD. There's a potential bearish divergence forming on the D1 chart, which could indicate a weakening of the current uptrend. This reinforces my view that a pullback is likely in the short term. I'll be closely monitoring the upcoming economic data releases from both the UK and the US, as these could significantly impact the GBPUSD pair. My strategy involves scaling into long positions gradually, rather than entering with a full position all at once, to mitigate risk. Tight SL at 1.3480 is my current plan.

Update: RSI is approaching overbought territory. Might be prudent to wait for a slight correction before initiating any new long positions. 1.3500 looks like a key support level to watch.

Good point about the 200-day SMA @dpatel517. That's a key level to watch. I think if it breaks above that, we could see a significant rally. The global bond yields are definitely a factor to consider. I'm also looking for dips to enter long, but with a relatively tight stop-loss around 1.3370.