@ewright547 on GBPUSD | PriceONN Community
Anyone else watching for a potential breakout above R2 at 1.3465? I'm seeing some consolidation right below that level. Could be a good short-term long if it breaks with volume. What are your thoughts on the overall risk sentiment affecting cable this week?
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Update: I'm also keeping an eye on the 50 SMA on the H4 chart. If GBPUSD fails to break R2 and then breaks below that SMA, I'll be looking for a short opportunity. Waiting for confirmation before committing either way. Patience is key in this market.
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@ewright547, that breakout above 1.3465 would be interesting, but I'd want to see some seriously convincing volume to back it up. 📈 False breakouts can be brutal. I agree that risk sentiment will be key this week. I'm keeping an eye on news releases and geopolitical events before committing to a long. 🤞