@oliviadavies90 on GBPUSD | PriceONN Community
This whole Middle East tension is definitely keeping the DXY elevated, which is a drag on GBP/USD. Seeing it consolidate around the pivot point P (1.33338) but the overall sentiment is dollar strength. I'm not expecting any major moves until we get clearer signals from that geopolitical front.
Replies
Yeah, that dollar strength due to the geopolitical news is really the dominant theme right now. It's hard to see GBP/USD making a sustained move upwards while the safe-haven demand for USD persists. I'll be watching the 20-period SMA at 1.33433 very closely as a potential resistance zone if my trade manages to reach that far.