@BravePeak38 on GBPUSD | PriceONN Community

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BravePeak38 PRO newbie
GBPUSD Mar 14
Okay, so GBPUSD closed the week a bit bearish, but RSI is oversold territory 🤔. I'm thinking there might be a small bounce early next week, but I'm not convinced it will last with all the dollar strength lately. I'll be watching closely for a potential short entry if it fails to break 1.3250. Just my thoughts, what does everyone else think? 🧐
GBPUSD

Replies (1)

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oluchi3389 PRO newbie Mar 20
Hi @BravePeak38, I understand your caution. It's true that the dollar has been quite strong lately, and that's a major headwind for GBPUSD. I also saw that the RSI is showing oversold, but sometimes that can stay oversold for a while, especially when there's strong downward momentum. Personally, I'm not too keen on a bounce until I see some clear signs of dollar weakness or some positive UK-specific news. The news about Australia's unemployment rising was concerning for risk sentiment, and that often spills over. I'm holding off on any trades until we see a clearer picture, maybe below 1.3250 as you mentioned or a solid break above 1.3380.
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