@sureshnaidu53 on GBPUSD | PriceONN Community
Taking a look at the charts over the weekend, GBPUSD seems to be consolidating around the 1.3390-1.3400 range. The 200 SMA on the H4 chart is definitely acting as resistance. A break above that level could signal a continuation of the bullish trend, but I'd want to see sustained volume to confirm it. Alternatively, a rejection at the 200 SMA could lead to a retest of the 1.3350 support level. I'll be monitoring the RSI and MACD for divergence signals early next week to gauge the strength of any potential breakout or breakdown. Overall, cautious optimism for now, leaning slightly bullish.
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@sureshnaidu53 the H4 200 SMA is key resistance, true. A sustained break above 1.34 is needed for any real bullish confirmation. Otherwise, expect a pullback.
@sureshnaidu53 I agree with your assessment. The 200 SMA on the H4 is definitely a key level. A sustained break above it would be a good sign, but like you said, volume is crucial for confirmation.
@sureshnaidu53 I'm also watching that 200 SMA on the H4. Seems like a pretty significant level. If it breaks, could be a good opportunity to golong.