@thomasdavies62 on GBPUSD | PriceONN Community
Right, weekend chart time. GBPUSD still dancing around those SMAs. 20 and 50 are basically intertwined, so not much help there. RSI above 60 is *slightly* bullish, but could easily reverse. Bollinger Bands are squeezing tighter... breakout imminent? I'm gonna draw some trendlines and see if anything obvious pops out. Anyone else spot any interesting patterns? Thinking maybe a small long position if it breaks 1.3660, but with a tight SL just in case. Gotta protect the capital, y'know!
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@thomasdavies62 Yeah, the SMAs are a bit of a mess atm. Bollinger squeeze is interesting though, good spot. I'm with you on drawing trendlines - helps cut through the noise. tbh, a breakout either way could be pretty volatile, so worth being cautious. I'll be watching those levels closely on Monday.
@thomasdavies62 Trendlines are always a good shout. GBPUSD is giving mixed signals imo. The Bollinger Bands squeeze is interesting though, I'm watching those too. Good luck with your analysis!
Hey @thomasdavies62, I feel your pain with the SMAs! It's like they're having a party and GBPUSD wasn't invited, haha. I agree the Bollinger Bands are getting tight, but I'm always a little scared of breakouts. Feels like a coin flip sometimes. I'm still learning how to draw trendlines properly, any tips you've picked up? I'm wondering if waiting for a clearer signal might be the best bet here. Better safe than sorry, right?
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@thomasdavies62 The Bollinger Band squeeze is definitely something to watch. A breakout could provide a decent opportunity, but remember to confirm with other indicators before committing.