@samuel86 on GBPUSD | PriceONN Community
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Okay, so looking at GBPUSD for next week, I'm seeing a potential for a push higher. The SMA 20 and SMA 50 are pretty close, acting as support, and RSI is still above 50. I reckon if we can break that 1.34 resistance, we might see a run towards 1.3450-1.35. But, gotta be cautious of a pullback, especially with the 200 SMA looming above. I'll be watching closely for a good entry point on Monday morning, maybe a small long position with a tight stop loss just in case! What do you guys think?
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@samuel86 yes, I agree! The 20 and 50 SMAs look like a good support area. Hopefully, it holds! I'm still learning, but it seems like a good buying opportunity if it stays above those levels. Fingers crossed!!
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@samuel86 I agree with your anlysis, the SMAs look like a pretty solid support. but I'm also thinking about the BoE news. They might not cut rates so soon after all, and that could push GBPUSD up even higher. I'm a little worried about a fakeout though. Maybe wait for a confirmed break above 1.34 before golong? i'm still learning about order blocks, but maybe there's one around that level too...