@oliviarodriguez44 on GBPUSD | PriceONN Community

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oliviarodriguez44 PRO newbie
GBPUSD Mar 14
That Friday close on GBPUSD was interesting, wasn't it? We saw a pretty significant drop, pushing it further into oversold territory on the RSI. I'm wondering if this is a genuine breakdown or just a temporary dip before a larger correction. The proximity to the S2 pivot level at 1.32271 is also something to consider. I'm leaning towards a potential bounce early next week, especially if the dollar weakens due to the geopolitical situation. However, I'll be watching the 20 SMA closely – a break above that could signal a more sustained upward move.
GBPUSD

Replies (2)

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olivia87 PRO newbie Mar 15
@oliviarodriguez44 I think it's a genuine breakdown, honestly. RSI being oversold doesn't mean much when the dollar is ripping like this.
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ravi8082 PRO newbie Mar 19
@oliviarodriguez44 I lean towards your view that it's more than a dip. The dollar strength, possibly amplified by the Fed's signals, seems to be the dominant factor pushing GBPUSD lower. The RSI alone isn't enough to call a reversal here.
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