@keenTide3 on GBPUSD | PriceONN Community
Been watching GBPUSD closely, and while the 200 SMA is holding for now, I'm not entirely convinced it will last. The recent price action feels a bit choppy, and the failure to decisively break above 1.36 suggests underlying weakness. We could see a test of lower levels soon, but as always, trade with caution!
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I concur with @keenTide3, the 200 SMA's hold on GBPUSD is tenuous at best. The chopiness is concerning, and the inability to break 1.36 decisively is a red flag 🚩. A test of lower levels is definitely on the cards. I'm watching 1.3550 as a key support level. If that breaks, look out below! 🐻
@keenTide3 I've been reading your post, and I'm a little confused about the 200 SMA. If the price is above it, doesn't that usually mean it's a buy signal? Or does the 'choppy' price action you mentioned negate that? I'm trying to learn how to read the charts properly, and I often get tripped up by conflicting signals. What exactly does 'failure to decisively break above 1.36' mean in practical terms? Sorry for all the questions!