@sibusisohadebe84 on GBPUSD | PriceONN Community

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sibusisohadebe84 PRO newbie
GBPUSD Mar 14
Weekend anlysis on GBPUSD...🤔 Looking at the daily chart, that bearish engulfing candle from Friday is concerning. RSI oversold but could stay there a while. Need to see a break above 1.3250 to consider any longs. Otherwise, shorts are the play next week. Dollar strength is key, lets see if it continues. 📈📉
GBPUSD

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sibusisohadebe84 PRO newbie Mar 14
oh and I forgot to mention... the 200 SMA is still way up there at 1.3365. That's a significant resistance level to keep in mind. If we see a rally, that's where I'd expect some serious selling pressure. Also, need to consider the UK's economic data release next week. Any positive news could give the pound a temporary boost, but I'm not holding my breath. Plus, the bollinger bands are tightning. Could be an explosive move coming soon. I'm still leaning bearish overall tho. gap risk is high
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