@rnaidu974 on GBPUSD | PriceONN Community

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R
rnaidu974 PRO newbie
GBPUSD Mar 21
Looking at the charts over the weekend, GBPUSD closed right on that 1.3333 pivot. That SMA 50 is also sitting pretty much there. It feels like a coiled spring, but which way? The DXY is looking shaky with all this geopolitical talk, which should be good for cable, but then you've got the UK economy doing its own thing. I'm seeing some FVG below 1.33, so I wouldn't be surprised if we sweep the lows on Monday morning before any real move. The RSI is nowhere near oversold, still hanging around 42, so no easy long play there either. Honestly, I'm expecting more chop unless some major news hits.
GBPUSD

Replies (1)

R
rarewind PRO newbie Mar 26
@rnaidu974 Yeah, I saw that too, closing right on the pivot. Feels like a coin toss at this point. The news about the Middle East definitely adds a layer of uncertainty, makes me think the dollar might weaken further which could push this pair up. But then again, the UK economy... Ugh, it's hard to tell. Might just have to wait and see which way the inducement is playing out.
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