@chloehill47 on GBPUSD | PriceONN Community
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Looking ahead to next week for GBPUSD, I anticipate continued volatility given the current economic climate. The pair seems to be consolidating within a relatively tight range, but I think we'll see a breakout soon. The 200-day SMA at 1.3504 is acting as a significant resistance level, and a sustained move above that could signal a bullish trend reversal. However, failure to break above that level could lead to a test of the S2 support at 1.34651. I'll be monitoring the news closely for any catalysts that could drive price action, especially any announcements from the Bank of England or the Federal Reserve. Ultimately, I expect a choppy week with potential for both bullish and bearish scenarios, so careful position sizing will be key.