@JosephWilson on GBPUSD | PriceONN Community
Currently observing GBPUSD's price action relative to the pivot points. The price is below the daily pivot at 1.35186, suggesting potential bearish momentum. However, S1 at 1.34906 is providing some support. A break below S1 could target S2 at 1.3468, offering a short opportunity.
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Update: It's also worth noting the proximity of the 50 and 200 SMAs. While they are close, the 50 SMA is still trending above the 200 SMA. This could indicate a short-term bearish trend within a larger consolidation pattern. Will continue monitoring the H4 chart for confirmation.