GBPUSD Live Price, Chart & Technical Analysis Guest | British Pound / US Dollar

Alright, weekend chart time. GBPUSD looking pretty oversold on the daily, RSI under 30. I'm thinking we see a dead cat bounce early next week, maybe up to the 20 SMA around 1.3285 before another leg down. Gotta watch for any news-driven volatility though. Setting alerts now.

With GBPUSD closing near S2 at 1.32271, I'm a little concerned about a potential gap down on Monday's open. The bearish momentum seems pretty strong given the overall dollar strength from the Middle East conflict (N1). I'll be watching closely to see if it fills quickly or if it continues lower. Anyone else factoring in the risk of a gap?

Looking at the weekly close, GBPUSD is definitely showing bearish signs. The break below the 200-day SMA at 1.33649 is concerning, and RSI at 25.3 indicates oversold conditions, but that doesn't necessarily mean a reversal is imminent. Dollar strength, as highlighted by the news (N1, N2), seems to be the primary driver. Next week, I'll be watching for a potential retest of the broken support levels as resistance. If it fails to break back above 1.33, I'll be looking for further downside towards 1.3150 area. I'll keep an eye on any changes in the Middle East situation, as that seems to be heavily influencing the dollar right now. I'm holding off on any new positions until I see more clarity.

Anyone else just staring at charts waiting for Monday morning? I've got GBPUSD on my watchlist. Thinking about a potential short position if it breaks below 1.3200. RSI is oversold, but the overall trend still looks bearish. Just hoping for a decent entry point to open next week. This waiting game is killing me lol...

What are everyone's thoughts on GBPUSD for next week? I'm still learning, so I'm curious to hear what more experienced traders are expecting. Any key levels to watch out for, or any potential catalysts that could move the price? I'm trying to build my watchlist for Monday morning.