@mCarter3 on GBPUSD | PriceONN Community

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M
I anticipate further downside for GBPUSD in the coming days. Given the current bearish trend and RSI below 50, a retest of S2 at 1.34362 seems likely. However, the geopolitical climate following the Iran news introduces considerable risk. A break above the 20 SMA at 1.34533 could invalidate this outlook, so managing risk is key.
GBPUSD

Replies (1)

M
mCarter3 PRO newbie Mar 2
Update: It's also worth noting the potential impact of the overnight session's low volume on the current price action. The move down may be exaggerated and could see a retracement during the London or New York sessions. I'll be closely monitoring volume and price action around the 1.3420 level for signs of support. If it breaks decisively, then a move towards 1.34 is definitely on the cards. Always consider both technicals and fundamentals.
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