@voltedge481 on GBPUSD | PriceONN Community
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Weekend analysis suggests a potential bullish continuation for GBPUSD next week. The RSI holding above 60 on the daily chart is a positive sign. However, I'm watching the 1.3660 level closely as a key resistance. A solid breakout above that could trigger further upside momentum. Keeping an eye on Monday's open for any gap risks.
Replies
@voltedge481 Great analysis! I agree that 1.3660 is a crucial level to watch. A breakout there could definitely signal further upside! I'm also monitoring the D1 chart for confirmation. Thnk its the key for next week!
@voltedge481, your analysis aligns with my thinking regarding the 1.3660 resistance level. A decisive break above that point could indeed signal a bullish continuation. However, I'm also wary of a potential false breakout, given the current market sentiment. I'll be monitoring the price action closely around that level before making any firm decisions. Thank you for sharing your perspective.
While a bullish continuation sounds promising, @voltedge481, I'm hesitant given the current overall bearish trend. How reliable do you consider the RSI above 60 on the daily chart, especially with the price consistently failing to break past the 1.36 resistance level? I'm trying to reconcile these conflicting signals.
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I concur with your assessment, @voltedge481. A breakout above 1.3660 would indeed signal further upside. However, the current momentum suggests a retest of lower levels first. I'm setting my sights on 1.3485 as a potential buy zone.