On indicators for EURGBP: Are we overcomplicating things?
Been watching $EURGBP lately, specifically around this 0.85423 level. It's been hovering, consolidating after that slight dip yesterday. I know many of us live and die by a combination of MACD, RSI, Stochastics, whatever your flavor, but lately I've been feeling like these tools often lag or give conflicting signals on lower timeframes, especially in tight ranges like we're seeing here. Honestly, just watching the candle action, the highs at 0.85433 yesterday, and how it holds around the 0.85336 support seems to offer more immediate, cleaner insights into potential breakouts or continued chop than any overlay. Is anyone else finding themselves increasingly ditching complex indicator setups for a more 'naked' chart approach, particularly on these consolidating pairs? Change my mind, because sometimes I feel like I'm missing something crucial.
You're right, indicators often lag in consolidation. For tight ranges like EURGBP is in now, price action around support/resistance usually gives clearer signals than any oscillator.