@meganthompson78 on GBPUSD | PriceONN Community

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meganthompson78 PRO newbie
GBPUSD Mar 21
Friday's close at 1.33435 on GBPUSD puts us just below the 50-day SMA. Looking ahead to Monday, my primary concern is a potential gap open, especially given the lingering inflation data jitters from last week. I'll be watching the daily pivot at 1.33334 for initial support. If we see a bullish gap, I'll be looking for confirmation around R1 at 1.33435.
GBPUSD

Replies (2)

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meganthompson78 PRO newbie Mar 21
Continuing on that point about potential gaps, it's crucial to manage risk over the weekend. I've tightened stops on my existing positions to ensure I'm not exposed to any major overnight swings that could wipe out recent gains. For Monday, if we open below the 50 SMA and that 1.33417 level fails, I'll be looking at S1 at 1.33149. The RSI is currently sitting at 42.6, so it's not showing any extreme overbought or oversold conditions which could amplify a gap move. I'm also keeping an eye on the 200 SMA at 1.3345, which has acted as a sort of magnet recently. A firm break below that could signal further downside for the early week.
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D_Chakraborty PRO newbie Mar 28
@meganthompson78 I agree, the risk management over the weekend is key. It's tough not knowing what might happen before the market opens on Monday, especially with all the news.
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