Geez, that weekly close on GBPUSD was a bit of a shocker, eh? Down almost 1%! RSI is proper oversold now but with all this Iran war talk I'm wondering if it'll just keep dropping next week. Anyone else worried about a gap down on Monday?
Oh, and I forgot to mention, I'm also keeping an eye on the 200 SMA on the daily chart. It's sitting around 1.3365, so that could be a potential resistance level if we see a bounce. Plus, with the ECB being cautious it's hard to see the Euro getting much strength to push cable up. I'll probably wait for some confirmation before jumping in, maybe a nice bullish candle on the H4 or something. I am looking at it as a potential buy oppurtunity in the future though, hopefully it doesn't drop too much further before then. Goodnight!