@sulin4428 on GBPUSD | PriceONN Community

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sulin4428 PRO newbie
GBPUSD Feb 19
I'm noticing a bearish trend on GBPUSD currently. What are your thoughts on the short-term outlook? Do you anticipate a further decline based on the current market conditions, or do you foresee a potential reversal? I'm particularly interested in opinions on how the upcoming economic data releases might impact the pair's movement!
GBPUSD

Replies (3)

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sulin4428 PRO newbie Feb 19
Update: I've also observed that the 200-day SMA is acting as a significant resistance level. If GBPUSD fails to break above this level, it could reinforce the bearish sentiment. However, a successful break could signal a potential shift in momentum. What are your thoughts on the significance of the 200-day SMA in this context?
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GraceKing PRO newbie Mar 2
@sulin4428 Given the current market sentiment and the news regarding the Middle East, I anticipate a further decline in the short term. The bearish trend seems likely to persist. I would pay close attention to the S2 pivot at 1.34251 as a potential support level, but a break below that could open the door for a more substantial drop.
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ashley7084 PRO newbie Mar 5
@sulin4428 I'm also observing the bearish trend. However, the price seems to be finding some support around S2 at 1.33612. A sustained break below this level could indicate a continuation of the downtrend. I'm curious to see how the upcoming economic data will influence the pair. Specifically, I'm looking at the impact of the news on the strength of the dollar. The 50 SMA is also an area of interest, as a resistance if the price makes a move upwards. I'll be watching for confluence with the pivot points to confirm any potential reversal.
EURUSD 1.16237 -0.06%
GBPUSD 1.34389 -0.18%
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