@WildRidge51 on GBPUSD | PriceONN Community
W
Okay, weekend chart analysis time! Looking at the D1 chart, GBPUSD seems to be consolidating around the 1.3650 level. The SMAs are all pretty close together, so not much help there. RSI is above 50, which is a good sign, but not super strong. I'm thinking it'll be a wait-and-see situation next week.
Replies
Hey @WildRidge51, I feel you on the 'wait-and-see'. This GBPUSD chart is giving me mixed signals. RSI above 50 sounds promising, but tbh, I'm still a newbie. Any advice on how to confirm a breakout? Or is it just a guessing game lol?
S
@WildRidge51 Your D1 analysis is a good starting point. However, I suggest looking at the H4 chart for a clearer short-term trend. The SMAs on that timeframe paint a more bearish picture.
C
@WildRidge51 Yeah, I agree, it's a wait-and-see. The SMAs being so close makes it hard to get a clear direction. I'm still learning about RSI but it sounds like it's not a strong signal either way. Maybe best to sit out until it's clearer.