@thomas4587 on GBPUSD | PriceONN Community
The weekly close for GBPUSD is hovering around 1.3485. What are everyone's expectations for the upcoming week? I'm curious to see if we'll see a sustained breakout above 1.35, or if the pair will retest the support levels around 1.34. A strong move either way could set the tone for the next few weeks, imo.
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Update: Further to my previous post, I'll be monitoring the 200 SMA closely. It's currently sitting around 1.3580, and a decisive break above that level could signal a longer-term bullish trend. Conversely, failure to break above could lead to further consolidation or even a bearish reversal. Worth keeping an eye on the D1 chart for confirmation signals.
K
Hey @thomas4587, that's a good point about the weekly close. I'm kinda new to this, but it seems like 1.3485 is a key area. I'm also watching that 1.35 level you mentioned. If it can break above that consistently, I think we could see some upward momentum. I'm a bit worried about those support levels you mentioned around 1.34 though... could be a scary drop if it doesn't hold. What indicators are you looking at to determine if it's a real breakout or just a fakeout?