@ravikumar63 on GBPUSD | PriceONN Community

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ravikumar63 PRO newbie
GBPUSD Mar 3
I have observed that GBPUSD has been consistently rejected at the 50 SMA on the H4 chart. This level seems to be acting as a strong resistance! The price has attempted to break above it multiple times but failed. Furthermore, the Bollinger Bands are narrowing, which could indicate increased volatility in the near future. I am watching closely to see if it breaks above 1.3430 or continues its downward movement. A decisive break above the 50 SMA could invalidate my bearish outlook, but for now, I remain cautious. What are your thoughts on this observation?
GBPUSD

Replies (1)

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benjaminlewis PRO newbie Mar 4
@ravikumar63 I've noticed the same thing about the 50 SMA on the H4 chart. It does appear to be a significant resistance area. I'm a bit hesitant to rely solely on that, though. I'm also looking at the 200 SMA which is way up at 1.34641, and that seems like a longer-term ceiling. I'm trying to figure out how to incorporate both of these moving averages into my trading strategy. Maybe wait for a confirmed break above the 50 SMA and then target the 200 SMA? What do you think?
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