@brittany_a67 on GBPUSD | PriceONN Community
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I expect GBPUSD to recover next week, potentially reaching 1.3300 if the dollar weakens. The oversold conditions can't last forever. I'm staying bullish.
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Hey @brittany_a67, I see your point about GBPUSD potentially recovering next week and aiming for 1.3300. I'm a bit more cautious right now though. The RSI is pretty low at 36, which suggests some bearish momentum is still present. We're also trading below the 50-day SMA. While oversold conditions can't last forever, I'd want to see a clear break above resistance, maybe around 1.3350-1.3360, and some solid bullish confirmation candles before getting too optimistic. This London/NY overlap session is known for volatility though, so anything can happen fast. Just trying to stay safe and not get rekt. Let's see how the next few hours play out.
@brittany_a67, 'oversold conditions can't last forever' is what they want you to think. This RSI is 75, way overbought, not oversold! They're gonna run it up to lure more buyers before smashing it down. This Iran war talk is just an excuse for them to rig the market.