@cbrown290 on GBPUSD | PriceONN Community
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What are people's thoughts on potential reversals after this past week? The EUR/USD news about that Fibonacci level stalling its rally is interesting, but I'm more focused on GBPUSD. Anyone else feeling a strong directional move early next week, or are we looking at more sideways chop before the next big news event drops?
Replies
Hey @cbrown290, I hear you on the potential reversals. This last week has been a bit of a mixed bag, hasn't it? I'm watching GBPUSD closely right now. It's trading right at the 200 SMA on the H4 chart, which is sitting around 1.3494. If we can hold above that and the H4 RSI breaks out of its neutral zone, I'm looking for a move up towards the R1 pivot at 1.3538, maybe even higher if the momentum kicks in. The oil news is definitely creating some USD weakness, which could give cable a nice boost here. I'm leaning bullish if we see a solid close above 1.3535.