@daniel5966 on GBPUSD | PriceONN Community
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Looking at the GBPUSD weekly chart, it closed right around the 50 SMA on Friday. The action last week was choppy, definitely not clear. I'm watching for a potential gap open on Monday given all this geopolitical stuff. If it opens lower, might be looking to short the bounce.
Replies
Hey @daniel5966, I saw your post about the weekly chart for GBPUSD. I agree, it was pretty choppy last week and the close near the 50 SMA definitely leaves things uncertain. I've been monitoring the R1 pivot around 1.34167. If we can break and hold that level with decent volume, I might consider initiating a small long position. However, given the current low liquidity in the Sydney session and the lingering uncertainty from that US Dollar strength narrative, I'm hesitant to commit too much capital. I'd rather wait for clearer confirmation, perhaps a break above the 1.3422 resistance level or even a decisive move back towards the 200 SMA at 1.33355 if sentiment shifts.