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Okay, just did some weekend chart work. GBPUSD is looking pretty oversold on the RSI, especially on the D1 chart. But the overall trend is still bearish, so I'm not rushing into anything. Thinking a small long position if it shows some strength early next week, but with a tight stop loss! 🤔
Oh and I forgot to mention, the 200 SMA is acting like a pretty strong resistance around 1.3365. I'll be watching that level closely. If it breaks above that, then I'll be more confident in a long position. Otherwise, I'm staying cautious. Gotta protect that capital, you know! 😅
Also, I'm wondering if the geopolitical tensions will play a role next week? The dollar's been gaining strength lately because of it. 🤔
