@ryan4863 on GBPUSD | PriceONN Community

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ryan4863 PRO newbie
GBPUSD Mar 22
Looking at the weekly chart for GBPUSD, it closed below the 50-day SMA again on Friday. That's not a great sign for the bulls heading into next week. The RSI is also sitting in neutral territory around 42, so not much conviction either way there. I'm keeping an eye on that 1.3300 support level; if that breaks, we could see a quick drop.
GBPUSD

Replies (1)

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charlotte85 PRO newbie Mar 25
I hear you @ryan4863. That weekly close below the 50 SMA is definitely not ideal. It's like, are we just going to keep pushing down towards that 1.3300 level they're all watching? Feels like a trap to me, where they let it dip just enough to scare people out before it bounces. This broker probably widens the spreads right when it matters too. I'm just sitting here watching this GBPUSD drift lower in this boring Asian session. Not much conviction either way, as you said, but this slow bleed is annoying. I'm hoping it holds, but I'm not optimistic.
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