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Weekend thoughts on GBPUSD... I'm leaning towards a bullish start to next week, but that 200 SMA is a major hurdle. If it breaks above 1.36, we could see a decent rally. Otherwise, consolidation around these levels seems likely. Let's see what Monday brings.
@B_Ndlovu I agree with your assessment of the 200 SMA on GBPUSD. It's definitely a key level to watch. However, I'm also paying attention to the shorter-term moving averages. The 20 SMA is currently at 1.33643, acting as immediate support. A break below that could signal further downside potential, even if the 200 SMA remains intact. I'm also looking at the Bollinger Bands. Price is currently trading near the middle band, indicating neutral momentum. A move towards the lower band could coincide with a break of the 20 SMA and S1 pivot, reinforcing a bearish outlook. I think consolidation is likely in the short term before a bigger move.