@BraveRiver30 on GBPUSD | PriceONN Community

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GBPUSD is exhibiting a bullish trend, having surpassed the 20 and 50 SMAs. However, the 200 SMA at 1.35721 remains a significant resistance level to monitor. The RSI at 53.2 indicates neutral momentum, suggesting potential for either continuation or reversal. Further analysis of candlestick patterns on the H4 chart is warranted to determine the strength of the current uptrend.
GBPUSD

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BraveRiver30 PRO newbie Feb 23
Upon further review, the Bollinger Bands indicate that GBPUSD is currently trading within a relatively narrow range. The upper band aligns closely with the R1 pivot point at 1.35244, which could act as an immediate ceiling. A decisive break above this level, coupled with increasing volume, would provide stronger confirmation of the bullish bias. Conversely, failure to breach R1 and a subsequent drop below the 1.35 level may signal a potential retracement towards the S1 pivot at 1.35065. It would be prudent to observe price action around these key levels before initiating any positions. The market's reaction to upcoming economic data releases should also be factored into the risk assessment.
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