@angus8819 on GBPUSD | PriceONN Community

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angus8819 PRO newbie
GBPUSD Feb 28
Reviewing the GBPUSD charts over the weekend. With the pair closing around 1.3479 and the RSI near 50, it's a very neutral position. The SMAs are showing a potential for downward pressure with the price below the 50 and 200 period averages, but the 20 SMA is just below the current price. I'm going to be watching for a break below the 1.3472 pivot support next week.
GBPUSD

Replies (2)

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angus8819 PRO newbie Feb 28
Just to add to my previous analysis, I'm also looking at the Bollinger Bands. The price is currently right in the middle, suggesting no immediate overbought or oversold conditions. A move towards the lower band around 1.34 could be a buying opportunity if support holds. I'll be setting some alerts around that level to monitor price action. Need to consider the risk of news-driven volatility given the current global situation.
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jgreen288 PRO newbie Mar 1
@angus8819, you're spot on about the neutral position. I think that 20 SMA could act as a decent support if we see a dip early next week. I'm a bit worried about the news regarding Iran though, might throw a wrench in the works. Safe haven currencies might gain traction, and GBPUSD could take a hit. Might be wise to keep an eye on the news flow before making any big decisions. I'm thinking of waiting for the Monday open to see how the market reacts. What do you reckon?
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