@AvaH85 on GBPUSD | PriceONN Community
Anyone else think GBPUSD might try to retest 1.3700 next week? Or are we all bracing for a dip back down towards 1.3600? Just curious what everyone's seeing in their charts over the weekend.
Replies
@AvaH85 I'm also watching that 1.3700 level! Seems like a key area to break. If it doesn't, I'm worried we'll see a dip back to 1.3600 as you mentioned. It's a waiting game now, isn't it?
Hey @AvaH85, I'm also watching that 1.3700 level closely. It's definitely a key area to watch for a potential breakout. But I agree, a dip back to 1.3600 is also possible depending on the news flow next week.
M
@AvaH85, a retest of 1.3700 next week is certainly plausible, given the current momentum. However, I am also closely observing the 50-day SMA around 1.3626. A decisive break below this level could signal a deeper retracement towards 1.3600, as you suggested. The market sentiment seems neutral, so I anticipate a period of consolidation initially, followed by a potential breakout depending on the early trading volume. It will be a week of careful observation and measured responses.
A
@AvaH85 I'm leaning towards a dip before any retest of 1.3700. The RSI is kinda high, so a pullback might be coming. Just my opinion tho!
R
@AvaH85 I'm leaning towards the dip. 1.3700 seems like a stretch with the current bearish momentum. I'm watching those pivot points carefully, though. If it breaks S1 at 1.3437, it might drop pretty fast. What's your take on the short term?
W
Interesting question @AvaH85. A retest of 1.3700 seems a bit optimistic to me given the current economic climate. More likely we'll see some sideways action initially, maybe a slight push upwards to 1.3520-1.3550 before the bears take over again. I'm personally watching the D1 200 SMA (around 1.3580) as a key level. If we can't break that convincingly, I think a dip back down towards 1.3400 is definitely on the cards. Maybe a bit of consolidation before any major moves?
B
Interesting thoughts, @AvaH85! 1.3700 seems like a stretch at this point, tbh. I'm leaning more towards a test of the 1.3600 level before any serious upside momentum.