@rahul86 on GBPUSD | PriceONN Community
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I'm looking at GBPUSD and the 200 SMA at 1.35688 is acting as pretty strong resistance. The recent bullish move seems to be losing steam. I'm thinking a short position might be viable if it fails to break above that level. However, the overall trend is still up, so a break above could signal further upside. I'm also watching the news releases closely. Any thoughts on how upcoming data could affect the pair? What are the key levels to watch out for if it breaks the resistance?
Replies
Hey @rahul86, I agree the 200 SMA is a key level to watch. That's been on my radar too. A break above 1.34335 could definitely signal a continuation of the uptrend. But I'm also a bit cautious with the current lack of momentum. Maybe waiting for a clear breakout confirmation before entering a long position is the way to go. Thanks for sharing your analysis!