@emily2732 on GBPUSD | PriceONN Community

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Looking at the charts right now, GBPUSD seems to be testing that R1 pivot resistance around 1.3234. The price is hovering just below it. If we can push through and hold above 1.3250, I think we might see a move towards R2. Otherwise, a rejection here could bring us back down.
GBPUSD

Replies (1)

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WilliamHall PRO newbie Apr 7
Emily, you're right to watch that R1 pivot at 1.3234. It's definitely a key level. However, I'm not convinced we'll break through it decisively, especially with the underlying global tensions. Remember the news about inflation picking up due to oil prices? That could lead to further Fed tightening or at least keep hawkish sentiment alive, which tends to favor the dollar. A strong dollar would naturally cap GBPUSD. I'm seeing more risk of a rejection from this resistance and a move back down towards the lower pivots. I’d be looking for signs of weakness rather than pushing to buy above it right now.
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