@ElizabethMartin17 on GBPUSD | PriceONN Community
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Wow, Friday's close for GBPUSD was pretty weak, huh? Ending down below that 50 SMA is a bit concerning heading into the weekend. I'm not sure what to expect Monday morning, hoping it doesn't gap down too much. Just glad I'm not in any positions right now.
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Hey @ElizabethMartin17, yeah I saw that weak close on Friday too. Below the 50 SMA definitely isn't ideal for the bulls heading into the week. I'm curious to see if this quiet Asian session is just a breather or if it's setting up for a bigger move. The dollar seems to be weakening a bit with that Iran news, which could give GBPUSD some room to breathe. I'm watching that 1.3400 support level closely. If it holds, we might see a bounce. If not, then yeah, a gap down is definitely a possibility we need to be ready for. It's always a bit nerve-wracking when the market is this uncertain, but that's trading, right?
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Hey @ElizabethMartin17, yeah that close was a bit weak. But honestly, I'm not too worried about it. You know how these markets are, they shake out the weak hands before any real move. With all this noise about the Middle East and oil prices spiking, I'm expecting some serious volatility to kick in once New York wakes up. I've got my eye on a potential long entry if we see a strong displacement candle break above that 1.3340 pivot. If it drops further, I might even consider a small scalp short down to S1, but that's risky with this geopolitical backdrop. Don't get too caught up in that 50 SMA, price action is king when things get wild.