@starwave480 on GBPUSD | PriceONN Community
Anyone else seeing a potential short setup on GBPUSD? Price is hovering around R2 at 1.34737, and the 50 SMA is acting as resistance. Looking for confirmation before entry. What are your thoughts on downside targets?
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Update: Regarding my earlier question about shorting GBPUSD, I'm also considering the overall trend on the D1 chart. It's still technically bullish, but the recent pullback could be significant. I'm watching for a break below the 20 SMA to confirm the short-term bearish bias. A break above R2 would invalidate the setup, so managing risk is key. I'm thinking of scaling in if it tests 1.3480. Any thoughts on this approach?