@adam6177 on GBPUSD | PriceONN Community
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Is anyone else watching the 1.34 level as a potential resistance point for GBPUSD? I'm relatively new to this, but it seems like it's been a significant area in the past. With the 200 SMA sitting around 1.345, I'm wondering if that could act as an additional ceiling. Any thoughts on whether this bullish trend will have enough momentum to break through?
Replies
@adam6177 I agree that the 1.34 level is a key area to watch. It has served as both support and resistance in the past. The presence of the 200 SMA slightly above at 1.34335 adds confluence to this level, making it a significant barrier for any potential upward movement. However, it's important to consider that the market may not always respect these levels precisely. We should also be aware of any upcoming news events that could influence price action around that area. A decisive break above 1.34, confirmed by volume, would be a strong bullish signal, but until then, caution is warranted.