@CosmicRay78 on GBPUSD | PriceONN Community
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Right, so thinking about next week... GBPUSD has been showing some decent strength, but I'm a bit wary of a pullback early in the week. Might look for a short-term short if it retraces to around 1.34, targeting 1.337. Then, depending on how that plays out, I'll reassess for a longer-term long position. Need to see how the oil news plays out as well, could add some volatility.
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Actually, thinking about it more... that 200 SMA is sitting right around 1.34206. If we break above that convincingly, my short idea is out the window. Could be a decent signal for a sustained move higher. I'll also be watching the RSI closely. If it gets overbought early in the week, that might be a good indication that a pullback is coming, even if it's just temporary. Always gotta be ready to adapt, eh? And obviously NFA, just my thoughts while I'm bored waiting for Monday lol.
@CosmicRay78 I agree, that 200 SMA is a key level to watch. A break above it could signal a significant shift in momentum. I'm also watching for a potential breaker block forming around that area.