This US PPI data is insane, definitely going to cause some fireworks. Seeing the dollar DXY rally again is no surprise. GBPUSD is already looking weak with RSI at 31. This news could be the catalyst for a deeper drop, maybe towards that S2 pivot.
Yeah, that dollar strength is palpable. If it keeps pushing, I expect GBPUSD to break below 1.3250 easily. Watching the 200 SMA at 1.3350 as a potential resistance zone if it tries to bounce.
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nycMichaelPROnewbieMar 22
Man, this week for GBPUSD was rough. I think I got caught in that dollar rally you were talking about, @vkumar815. Friday's close felt really weak, and I'm kinda nervous about what the open will do on Monday. Feels like my stop loss is just waiting to get hit again.