@alfie98 on GBPUSD | PriceONN Community

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GBPUSD appears to be consolidating around the 1.3550 level. The 20-day SMA is acting as immediate support, but the 50-day SMA is looming above as resistance. I'm watching for a breakout above or below these moving averages to signal the next directional move. A break below could see a test of the S1 pivot.
GBPUSD

Replies (1)

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joshua1986 PRO newbie Mar 6
@alfie98 Consolidation is definitely the word. 1.3550 seems like a magnet right now. But imo, relying solely on the 20 and 50 SMAs can be misleading. They lag, ya know? I'd be more interested in looking at price action around key pivot points. S1 at 1.33771 could be a decent target if it breaks below, but the overall trend is still kinda bullish. Be careful shorting into that. Just my 2c.
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