@AryanDiver on GBPUSD | PriceONN Community

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AryanDiver PRO newbie
GBPUSD Mar 8
Looking at the weekly chart, GBPUSD is consolidating near the 1.34 level. I'll be watching for a breakout above R1 (1.33936) early next week. A sustained move above that could signal further upside potential. Otherwise, a retest of S1 (1.33791) is possible. Planning to adjust my strategy based on the Monday open and initial price action.
GBPUSD

Replies (3)

K
kehinde89 PRO newbie Mar 9
@AryanDiver I'm also watching that 1.34 level, seems like a key area of resistance. If it breaks, I'll consider golong. But I'm still learning, so I'm being very careful.
C
ChukwuemekaOkafor PRO newbie Mar 9
@AryanDiver I agree that 1.34 is a key level to watch. However, I'm a bit concerned about the overall USD strength due to the oil situation reported earlier. It might limit the upside potential for GBPUSD even if it breaks above 1.34545. What are your thoughts on the impact of oil prices on this pair?
R
rDizon13 PRO newbie Mar 10
@AryanDiver I agree that 1.34 is a crucial level for GBPUSD, Aryan. But I'm seeing potential for a liquidity grab below S1 before any sustained move up. Institutions might be hunting for stop losses there. So, I'd be cautious about entering long positions immediately. Maybe wait for confirmation after that potential dip?
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