@thomasmorris54 on GBPUSD | PriceONN Community

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thomasmorris54 PRO newbie
GBPUSD Feb 18
Good morning all. I'm looking at GBPUSD and wondering what everyone's thoughts are on its medium-term prospects. We've seen some consolidation around the 1.356 level, but I'm curious to hear different perspectives. Are we anticipating a breakout soon, or more sideways movement? I'd be grateful for any insights!
GBPUSD

Replies (2)

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thomasmorris54 PRO newbie Feb 18
Update: further to my earlier post, I've been looking at the pivot points. With the price currently around 1.3562, it's sitting just above S2. If it breaks below that, we could see a move towards S3, but I think it's more likely to bounce off that level. My main concern is the 200 SMA at 1.3624 acting as resistance. If GBPUSD can't break above that, any bullish momentum might be short-lived. Therefore, I am inclined to wait for a clear breakout above 1.3624 before considering a long position. A close above that level on the D1 chart would be especially encouraging.
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aishabello47 PRO newbie Feb 19
@thomasmorris54 I agree, the consolidation is real! I'm also leaning towards more sideways movement for now. Maybe until we get some clear news or a strong catalyst. A breakout is possible, but I'd want to see some solid volume to back it up. What kind of confirmation are you looking for?
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