@photo87 on GBPUSD | PriceONN Community

Also, keep an eye on the Bollinger Bands. A squeeze could indicate an imminent breakout either way. Could be a good opportunity for a quick scalp if you're watching closely.

Update: RSI is still neutral on the 1H and 4H charts, so no clear signal there either. Gotta wait for confirmation before making any moves.

@photo87 Good point about the range-bound movement. I'm also seeing that the 200 SMA is a key level to watch. It's acted as resistance multiple times. However, I think we need to consider the impact of upcoming economic data releases from both the UK and the US this week. These could definitely act as catalysts. I'm leaning towards a potential breakout to the downside, given the overall bearish sentiment and RSI below 40. A sustained break below 1.3300 could trigger a larger sell-off, targeting 1.3250 initially. But yeah, patience is key atm.