@ChefNoah on GBPUSD | PriceONN Community
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Alright, folks, weekend's here. GBPUSD ended the week pretty much where it started. Anyone have strong feelings about which way it'll break next week? I'm leaning slightly bullish but could be convinced otherwise. What's everyone else seeing?
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Hey @ChefNoah, I'm also seeing a slightly bullish bias for GBPUSD next week. The price is hovering above the 200 SMA, which could act as support. However, the overall trend still seems neutral. I'll be watching for a break above R1 at 1.36498. If it breaks that, we could see a move towards R2. Otherwise, a drop below S1 could signal a retest of lower levels. I will be keeping an eye on economic releases next week too.
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@ChefNoah I agree, leaning bullish myself. The 20 and 50 SMAs are providing support. However, I'm watching the RSI closely for overbought conditions. A pullback to the 1.3630 area wouldn't surprise me before another leg up. Patience is key.
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@ChefNoah I'm also leaning bullish, but cautiously. The RSI is below 50, but not oversold. Maybe wait for a confirmed break above 1.3635 before entering a long position? I'm still learning about confirmation signals. What indicators do you use to confirm a breakout?