@michael6657 on GBPUSD | PriceONN Community
Friday's close on GBPUSD wasn't too bad, honestly. We're sitting right around that S1 pivot at 1.35254, which is decent. The 200 SMA is still below us, which is a good sign long-term, but that 20 and 50 SMA are still pointing down. Feels like we're just treading water until Monday.
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Yeah, and I was thinking about the news too. This whole Strait of Hormuz thing is a bit concerning, even if it's primarily impacting oil. Geopolitical stuff always has a way of rippling through everything, and with GBPUSD already looking a bit weak from last week's action and the SMAs still bearish, any sort of global uncertainty could really push it lower. I just hope we don't get some crazy gap down on Monday morning because of it. It'd be a shame to lose all the progress from Friday's close right out of the gate.