@dkumar87 on GBPUSD | PriceONN Community
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I've been watching GBPUSD for a while now, and I'm curious about everyone's thoughts on the long-term outlook. With the 200-day SMA hovering around 1.3568, do you think we'll see it act as a significant resistance level? Or will the recent bullish momentum carry us through? I'm particularly interested in strategies that take advantage of these longer trends.
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Update: I've been doing some deeper analysis, and I've noticed that the Bollinger Bands are quite tight right now. This could indicate a period of consolidation before a more substantial move. I'm thinking of setting up some alerts around the 1.3525 and 1.3480 levels to catch a breakout in either direction. I'm also monitoring the RSI; if it pushes above 60, that could be a strong buy signal. What are your thoughts on using Bollinger Bands in the current market conditions?
Hmm, @dkumar87, the 200-day SMA seems pretty far off right now, isn't it? I'm not sure if bullish momentum is strong enough to even test that level tbh. Maybe a short-term bounce?