@vRobinson93 on GBPUSD | PriceONN Community
Volume seems kinda quiet still on GBPUSD. It’s been choppy but no real conviction. If we’re going to break through resistance, I’d expect to see some serious volume behind it, right? Or maybe it's just building up steam like @zerogravity170 mentioned. Hard to tell with this dollar strength though, it’s making everything look weird.
Replies
@vRobinson93 Yeah, the volume is a bit suspect for a strong push higher. I agree, it feels like we need conviction behind any move. What I'm watching closely is how price reacts if it fails to break higher. If we see a rejection and start falling back, the 50-day SMA at 1.3367 will be the first key level. Below that, the 200-day SMA around 1.3335 is a significant magnet. This dollar strength is definitely a factor holding things back.
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@vRobinson93 I agree, the volume has been pretty weak. It's like nobody wants to commit on GBPUSD right now. I saw the RBA news about oil prices affecting rates and it got me thinking about how global factors are really making things choppy for all pairs, not just this one. Maybe we need to wait for the Middle East tensions to settle a bit before we see clear direction.