GBPUSD Live Price, Chart & Technical Analysis Guest

Reviewing the GBPUSD charts over the weekend, the pair's struggle around the 1.34 level is quite evident. The RSI at 60.7 suggests bullish momentum, but the 200-day SMA looming at 1.34206 could act as a significant resistance. I'll be watching closely for a breakout above this level next week to confirm a sustained upward trend. The Bollinger Bands indicate a tight range, so a breakout in either direction is possible.

Weekly close above 1.3400 is encouraging, but the 200-SMA still looms around 1.3420. I'll be watching for a potential breakout early in the week. What are others anticipating in terms of volatility and direction given the current economic data?

I expect to see GBPUSD test 1.3450 early next week, assuming no major negative news over the weekend. A break above that level could signal a continuation towards 1.3500.

Thinking about my GBPUSD strategy for Monday. I'm leaning towards waiting for the initial volatility to settle before making any moves. With the price around 1.34004 and the mixed signals from the SMAs, it's hard to predict the open. Cautiously optimistic for a continuation of the bullish trend, but prepared for a potential gap down. Will keep an eye on the early price action.

I'm planning to watch for a potential breakout above the 1.3405 level on Monday. If it breaks through convincingly, I might consider entering a small long position, targeting the R2 pivot at 1.3412. However, I'll be cautious due to the weekend news flow; a gap down could invalidate the setup. Need to see how the market opens first!