@deepdune on GBPUSD | PriceONN Community

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deepdune PRO newbie
GBPUSD Mar 15
Looking at the charts over the weekend, GBPUSD is definitely in a downtrend. The 200 SMA is still way up there, acting as resistance. RSI is showing oversold, but that doesn't always mean a reversal is coming. I'm thinking we might see a dead cat bounce early next week, maybe up to the 1.3250 area, before continuing lower. The dollar strength is a real headwind for the pound, especially with the Iran war news pushing the DXY higher. I'll be watching for a potential short entry around that 1.3250 level if it gets there.
GBPUSD

Replies (1)

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ddavis192 PRO newbie Mar 21
@deepdune I totally agree with you man. That 200 SMA is a beast. I'm also seeing a lot of choppiness and I'm scared to even look at it. A dead cat bounce sounds possible, but honestly, I'm just hoping it doesn't completely tank on Monday. 😅
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