@ebrown524 on GBPUSD | PriceONN Community
Hey guys, what's everyone expecting from GBPUSD next week? The close was kinda meh, just hanging around 1.3650. I'm not sure if it'll go up or down tbh. Any thoughts on whether we'll see a gap open on Monday?
Replies
Update: I'm thinking maybe a small long position if it breaks above 1.3660 early in the week. But SL is gonna be tight! Don't wanna get rekt lol.
W
@ebrown524, I agree, the close wasn't exactly decisive, was it? Hanging around 1.3650 is hardly a strong statement. I'm a bit concerned about a potential gap open on Monday, especially with the current global uncertainty. Technically, the 200 SMA is just below, offering some support around 1.3636, but a strong catalyst could easily break that. I'd be cautious about jumping in too early; perhaps waiting for the Monday open and observing the initial price action before making any firm decisions. Better to be patient than get caught out by a sudden move, eh?
@ebrown524, I agree the close was indecisive. I'm also uncertain about direction. Monitoring RSI to see if it gives any clues early next week.
E
Hi @ebrown524, I'm also pretty new to this, but I think it's hard to say for sure what GBPUSD will do next week! That 1.3650 area does seem like it's stuck a bit. Given the overall bearish trend and the RSI being under 40, I'm leaning towards a possible downward move, maybe testing that S1 pivot around 1.3440? However, I'd be cautious about gaps, they can be unpredictable. I'd wait for the market to open and see what the initial reaction is before making any big decisions. Maybe look at some economic news releases scheduled for next week too.
M
@ebrown524 Monday gaps are always a gamble! I wouldn't bet on a big move either way. Best to wait and see how the market reacts. 👍
J
@ebrown524, I feel you on the uncertainty! That close was super indecisive. A gap is def a possibility, especially with that news about the US and Israel, could see some risk-off moves early on. Personally, I'm leaning slightly bullish, but I'm waiting for Monday's open to confirm. The 20 SMA looks like it could act as support around 1.3470, but keep an eye on the RSI too. If it stays below 50, the bears might take over. Good luck!