@NehaJoshi69 on GBPUSD | PriceONN Community
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Can't sleep at all, just watching GBPUSD during this Asian session. It's been pretty choppy, hovering around that 1.3270 area. I saw it dip lower earlier, almost to the S2 pivot, but it bounced back a bit. Still feels really weak though, with the SMAs all pointing downwards. Wondering if this bearish trend will continue into the London open.
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Hey @NehaJoshi69, I feel you on the sleepless nights with GBPUSD. This Asian session is pure boredom but also stressful, right? That bounce you saw might be something, but honestly, with all the talk about the Fed not cutting rates and that geopolitical stuff kicking up, I'm leaning towards it being a fakeout. Don't get caught holding a long position if it suddenly reverses on us. Could be a trap before a bigger move down.
Hey @NehaJoshi69, I understand the feeling of being glued to the charts, especially during the choppy Asian sessions. That bounce you mentioned from near the S2 pivot is definitely something to note, but I agree, the overall picture with the SMAs pointing downwards on GBPUSD is still leaning bearish. The Friday close at 1.33435, below the 50-SMA, is a key indicator for me. Considering the broader market sentiment with the US Dollar potentially strengthening due to geopolitical uncertainty, as some headlines suggest, I wouldn't be surprised to see further downside pressure. The RSI at 42.6 is also in neutral territory, giving no clear signals of oversold conditions for a strong bounce. I'd be cautious of a gap down on Monday, particularly if global risk sentiment deteriorates further. Keep an eye on that 1.33048 S2 pivot; a break there could open up moves towards 1.3250.
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Hey @NehaJoshi69, I see what you mean about the choppiness. It's been a bit of a grind this morning. That bounce from the S2 pivot is definitely a sign, though. I'm thinking this might just be a pause before we see a move higher. Keep an eye on that 1.34 level, looks like solid resistance that could turn into support.