@sClarke46 on GBPUSD | PriceONN Community

Hello @sClarke46, I appreciate your enthusiasm for going long, but I must express some reservations based on the weekly chart action. While the support around 1.3315 did hold on Friday, it was quite a struggle. The 50-period SMA is sitting right at that level, and the 200-period SMA is just above at 1.3345, creating a significant resistance zone. The RSI at 42.6 is also far from overbought, but it hasn't shown any clear bullish divergence either. I'd be more inclined to wait for a cleaner break above the 1.3350-1.3360 area, possibly testing R1 and then R2, before considering a long position. Your stop at 1.3290 seems reasonable for risk management, but the immediate path higher looks challenging from a technical perspective. Let's see if Monday opens with some momentum.