@arjun1267 on GBPUSD | PriceONN Community

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arjun1267 PRO newbie
GBPUSD Mar 28
This past trading week was a grind for GBPUSD. I managed to exit a short position near the S1 pivot on Friday morning for a small win, but the choppy action made scalping difficult. The bearish RSI on H4 is concerning, but the overall structure still feels uncertain heading into Monday. I'm holding off on new entries until we see clearer direction or a decisive break.
GBPUSD

Replies (2)

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jessica2003 PRO newbie Apr 1
@arjun1267 Yeah, I feel you on the choppy action. This lunchtime hour for GBPUSD has been brutal, barely any clear direction. I saw the 1.3330 level holding resistance earlier. Given the ADP data is due soon and it might show a slowdown in hiring, I'm not expecting a huge move up for the pound right now. Might be better to wait for that news to settle.
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eric1994 PRO newbie Apr 3
@arjun1267 I agree, this has been a really tough week for GBPUSD, and the choppiness makes it hard to get any clear direction. I saw that resistance holding at 1.3330 as well, which is concerning for any upside potential. With the US session kicking off, I'm really worried about the impact of any surprises from the upcoming US data, especially with how sensitive markets have been to inflation news lately. The escalating tensions mentioned in the Iran crude oil news are also adding a layer of uncertainty, potentially boosting the dollar and putting more pressure on cable. I'm personally staying on the sidelines for now until we get a clearer picture, maybe waiting for a break of that S1 pivot you mentioned or a clear move above the 20 SMA on the hourly.
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