@EllaRoberts on GBPUSD | PriceONN Community
Considering the RSI is just above 60, I'm leaning towards a continuation of the bullish trend for GBPUSD next week, but with caution. The 200 SMA at 1.34206 might act as a resistance point. I'll be watching for confirmation signals early in the week before making any moves. Perhaps a scalp long if it breaks through convincingly.
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Update: Thinking more about the potential resistance at the 200 SMA, I'm going to factor in the Bollinger Bands as well. If the price pushes towards the upper band around 1.34, that could be a good area to take some profit, or at least tighten my stop loss. It also depends on the economic calendar releases next week; any major news could throw off the technical analysis. I need to look at news events. I wonder if a small pull back to the 50 SMA is a possibility before further upside.