@emilyking28 on GBPUSD | PriceONN Community
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My longer-term outlook for GBPUSD is cautiously bullish, contingent on upcoming economic data releases. While the 200 SMA at 1.34322 presents a significant hurdle, the recent price action suggests underlying strength. I'm closely monitoring the Bollinger Bands for a potential squeeze, which could precede a volatile move. A sustained break above the 200 SMA would confirm the bullish bias, potentially opening the door for a test of higher resistance levels. However, negative news could easily reverse this trend, so I'll maintain a relatively tight stop loss and adjust my position size accordingly. I'll be watching the D1 chart closely for confirmation signals.