@BrandonRunner on GBPUSD | PriceONN Community
B
The weekly close for GBPUSD around 1.3485 indicates a consolidation phase. Given the proximity of the 20 and 50 SMAs, next week's price action will likely be determined by whether it can decisively break above 1.35 or fall below 1.347. I'll be watching for confirmation before committing to a direction.
Replies
B
Update: I'm leaning slightly bearish, given the 200 SMA resistance looming overhead. A retest of 1.3450 would be my initial target.
J
I agree @BrandonRunner, a decisive break is what we need. 1.35 is the level to watch. If it fails to break above, a retest of 1.34 is likely. The Iran news could add extra volatility to the market, making it harder to predict. Keeping stops tight next week seems prudent.
Interesting points, @BrandonRunner. I agree that the 1.347-1.35 range is key. A confirmed break either way could signal a significant move. I'll be watching those levels as well.