@ZhenweiNg on GBPUSD | PriceONN Community

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Z
This whole dollar index situation is kinda confusing me, especially with what's happening geopolitically. The news about the dollar falling despite rising yields and tensions… it's like the market's not sure what to do with itself. It makes me hesitant about GBPUSD. I was thinking it might bounce back after Friday's dip, but if the dollar is fundamentally weak like some headlines suggest, then maybe my bullish outlook for next week is misplaced. I need to re-evaluate my strategy for when the markets reopen. It’s always the same waiting game during the weekend, you just overthink everything. I'm hoping for a clear direction early Monday, not another sideways grind like @aogunleye706 mentioned.
GBPUSD

Replies (2)

T
ttaylor19 PRO newbie Mar 25
@ZhenweiNg I get what you mean about the dollar index being confusing. The oil impact seems to be throwing a spanner in the works for traditional correlations. For GBPUSD, I'm seeing the 50 SMA at 1.3403 as resistance for now.
J
JWilson5 PRO newbie Mar 26
@ZhenweiNg I agree, the DXY is acting weird given the geopolitical backdrop. Oil prices spiking and the dollar still strong... it's not the usual correlation. On GBPUSD, that 50 SMA at 1.3375 is looking like resistance now. I'm not keen to buy into this weakness without a solid bounce signal.
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