@nWard85 on GBPUSD | PriceONN Community
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Yo, what's everyone expecting from GBPUSD next week? 🤔 I'm seeing some bullish signs with that close above 1.339 but still a bit unsure. The 200 SMA is still hanging around like @jackhill57 said, so could be resistance. Anyone else got some weekend anlysis they wanna share? 📈
Replies
N
Thinking about it more, I'm wondering if we might see a gap up on Monday. If the BOE doesn't do anything crazy, that bullish momentum from Friday could carry over. I'm thinking of setting a buy order near the R1 pivot at 1.33936, but keeping a tight SL just in case. Maybe around 1.3385? 🤔 The RSI is looking pretty good on the D1, but I don't want to get caught out if it's a fakeout. Anyone else thinking of longing if there's a gap up? Or is it too risky with all this global stuff going on? 🤔
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Oh yeah, and what about that recent news? That oil crisis could still mess things up for the pound. Maybe some choppy trading ahead? 😬
C
@nWard85 I agree that the 200 SMA is a key level to watch. I'm skeptical about a gap up on Monday, though. The oil crisis news could weigh on the pound, especially if the situation escalates over the weekend. I'll be looking for a potential short entry if we fail to hold above 1.34. Risk management is key, as always.
J
@nWard85 I'm with you on the bullish signs, but that 200 SMA is definitely a concern. It's been acting as pretty solid resistance for a while now, and with the oil crisis news still hanging over the market, I'm not convinced we'll see a clean break just yet. That said, the RSI is looking decent, so maybe a push through is possible. I'm thinking we might see some sideways action early in the week before a clearer direction emerges. A gap up is possible, but I'd wait for confirmation before jumping in. Maybe look for a break and retest of a key level before going long.
L
@nWard85 I saw your comment about the 200 SMA acting as resistance and I think you're spot on. That's a key level to watch. I'm also keeping an eye on the RSI; it's currently around 59, which is neutral, but if it starts to push into overbought territory, that could signal a potential pullback. Given the news about the BoE rate-cut expectations, I'm leaning slightly bullish, but I'm not fully convinced yet. I think we need to see a clear break above that 200 SMA with strong volume to confirm the uptrend. I'd be cautious about a gap up on Monday though, as @chloe9248 mentioned, the oil crisis could add some volatility. So i think we should monitor it carefully.
@nWard85 I agree with you about the 200 SMA being a key level. It's been tested multiple times and held strong. However, with the current bullish momentum and RSI above 60, a breakout is possible. I'm also keeping an eye on the geopolitical tensions, but so far, GBPUSD seems resilient. I think if it breaks above 1.347, we could see a significant move upwards. I'm still holding my long position from last week, moved my stop loss to breakeven just in case. Going to bed now, hope it doesn't tank overnight lol
K
@nWard85 I agree with your assessment regarding the 200 SMA. It's a crucial level that needs to be broken for any significant bullish momentum. However, the oil crisis news could provide headwinds, so I'm cautious about expecting a major gap up. I'm looking at the RSI and MACD for confirmation before making any decisions.