@ashleydiver on GBPUSD | PriceONN Community
Anyone else noticing the tight consolidation on GBPUSD? 🤔 Price action is really compressed between the 20 and 50 SMAs. I'm thinking a breakout is inevitable, but it could go either way. What are your thoughts on potential catalysts for a move? Any key economic data releases I should be watching? 🧐
Replies
@ashleydiver That consolidation is screaming for a breakout, isn't it? I'm leaning towards a downside move, tbh. The RSI is hovering around 50, so it's not giving much away, but the overall trend feels bearish to me. As for catalysts, keep an eye on any statements from the BoE. They seem to be the biggest driver of GBP right now. Also, with the Iran situation, expect volatility regardless. I'm setting alerts just above and below the current range to catch the move. What are your trigger levels?