@CoderJennifer on GBPUSD | PriceONN Community

Hi @CoderJennifer, I saw your comment about the potential bounce at 1.32. From a technical perspective, that 1.32 area has indeed shown some resilience in the past, acting as a psychological support. However, the weekly close at 1.3186 and the bearish RSI at 30.4 are concerning signs. The current SMAs are also all above price, indicating a dominant downtrend. While a short-term bounce is possible, I'm not convinced it signals a reversal without a clear break above the short-term moving averages, particularly the 20-period SMA which was at 1.32191. The current market sentiment, coupled with the lingering oil price uncertainty potentially impacting Fed policy, adds another layer of complexity. I'd be cautious about anticipating a strong upside move without more confirmation, perhaps a bullish divergence on a lower timeframe or a decisive push back above 1.3250.