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Given the neutral trend this week and the RSI hovering just above 60, what are everyone's expectations for GBPUSD next week? Any thoughts on key levels to watch for potential breakouts or breakdowns? I'm particularly interested in opinions on how the SMA 200 at 1.36363 might act as support.
Sarita, the 200 SMA at 1.36363 is definitely a key level to watch. If it breaks down, we could see a test of S1 at 1.36375. A bounce off the 200 SMA, combined with bullish RSI confirmation, would be a solid long entry signal imo.
