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Just noticed GBPUSD is hovering around that 50 SMA on the H4 chart... Seems like a pretty key level to watch for potential direction. If it breaks below, could see a move down towards the 20 SMA. Otherwise, continuation of the sideways movement is possible. What do you guys think?
Update: Okay, looks like it's testing that 50 SMA resistance pretty hard now! RSI is still a bit high, so I'm hesitant to jump in long just yet. Waiting for a confirmation candle before making any moves. Maybe a pullback to 1.3465 before going up again? We'll see!
