Good morning, traders! I am observing a potential short opportunity on GBPUSD. The pair is trading below all major SMAs, and the RSI suggests further downside momentum despite being near oversold territory. I will be watching for a break below S1 at 1.34359 to confirm the entry.
@nurul1405 Morning Nurul, your analysis is spot on. I'm also seeing the downside pressure. The RSI being oversold is a bit scary though, isn't it? Could it bounce back up any minute? I'm just a beginner, so please forgive my ignorance. Thnk i will watch for now.
