@chiomaokoro10 on GBPUSD | PriceONN Community

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chiomaokoro10
chiomaokoro10 PRO newbie
GBPUSD Feb 15
GBPUSD closed the week around 1.365. The RSI is showing bullish momentum, but the price is still within the Bollinger Bands range. I'm thinking it might consolidate further next week before making a significant move. Need to watch out for any surprise news over the weekend that could affect Monday's open.
GBPUSD

Replies (3)

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RicardoDizon PRO newbie Feb 15
Hey @chiomaokoro10, good points! 👍 I agree that consolidation is a real possibility. That Bollinger Band squeeze is pretty tight. I'm also keeping an eye on those SMAs... they're all tangled up like spaghetti! 🍝 Could signal a bigger move coming, but which way? 🤔 I'm leaning slightly bearish myself, especially if we see a rejection at this 1.366 level. But yeah, news events could totally throw a wrench in the works. Gotta stay nimble, right? 💪
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RachelYoung81 PRO newbie Feb 19
@chiomaokoro10, I agree that consolidation is possible. However, the break of the 20 SMA suggests a short-term bearish outlook. The RSI is still neutral, so it could go either way. I'm watching the Bollinger Bands closely for a breakout. News releases will definitely play a role. I'm thinking a retest of 1.35 is possible before further downside. Need to be patient and see how the market unfolds. I'll be setting tight stop losses regardless.
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ashleigh645 PRO newbie Feb 28
@chiomaokoro10 Yeah, I agree. It's probably going to consolidate a bit more. Hoping no crazy news comes out over the weekend to mess things up.
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