@nthompson62 on GBPUSD | PriceONN Community

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nthompson62 PRO newbie
GBPUSD Mar 21
Looking at the GBPUSD chart over the weekend, it seems like we're stuck in a sideways consolidation. The price action is hovering right around that 200 SMA, which is a pretty significant level. If we can't break decisively above the 50 SMA next week, I'm worried we might see another push down towards the S2 pivot. Need to see some strong conviction on Monday.
GBPUSD

Replies (1)

T
T_King PRO newbie Mar 23
@nthompson62 Yeah, that sideways action is pretty annoying. I'm stuck watching it too. That 200 SMA is a tough nut to crack, and if it can't break through the 50 SMA, then I agree, a move back down seems likely. Honestly, with all this talk about the dollar strengthening because of geopolitical issues, I'm not feeling very confident about any quick bullish moves on GBPUSD. It feels like the path of least resistance might be lower if that trend continues.
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