@joseph_t13 on GBPUSD | PriceONN Community

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J
My analysis suggests that GBPUSD is consolidating within a defined range, roughly between 1.34 and 1.35. The 200-day SMA at 1.35873 presents a significant resistance level. A decisive break above this level would signal a potential bullish trend reversal; however, failure to breach this resistance could lead to further consolidation or a move towards the lower end of the range.
GBPUSD

Replies (1)

J
jose9803 PRO newbie Feb 27
@joseph_t13 That's a good point about the 200-day SMA. I'll watch that level closely. But I'm concerned about the overall downtrend. What do you think the chances are of a significant bounce?
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