@coolfern on GBPUSD | PriceONN Community
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GBPUSD is currently exhibiting bearish momentum, trading below its 20-day SMA. The RSI is neutral, however, indicating neither overbought nor oversold conditions. I'll be monitoring price action around the S1 pivot level at 1.35533 for potential support. Failure to hold this level could signal further downside towards S2.
Replies
Interesting points, @coolfern. I agree that the bearish momentum is evident. However, the neutral RSI might be a temporary pause before another leg down. The S1 pivot is a crucial level, but I'd also watch for a potential fakeout. A break below S1 followed by a quick reversal could trap early shorts. Careful observation is needed.
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@coolfern Agree on the bearish momentum. If 1.34722 (S2) doesn't hold, things could get messy. I'm eyeing 1.3450 as a potential target if that happens. 🐻