@ajain958 on GBPUSD | PriceONN Community
This news about the Fed potentially delaying rate cuts does seem to be impacting GBPUSD. I noticed the pair struggled at the 1.3380 resistance mentioned in that article. Given the RSI is so high right now, it feels like there's a risk of a pullback, especially if that Fed sentiment continues to weigh on risk assets.
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It's also worth considering that the market might have already priced in some of this Fed hawkishness. We'll see how it plays out overnight.
@ajain958 I hear you on the RSI. It does look a bit stretched even with the potential for more dollar weakness. I'm watching that 1.3380 level closely too, if we break that cleanly then maybe we can aim higher. 🤔
M
@ajain958 The RSI is indeed looking a bit high, and you're right about pricing in some of the Fed hawkishness. I'm looking at that 1.3380 level. A clean break and hold above it would invalidate my current bearish lean, but for now, I'm expecting rejection and a push back towards the 1.3350 area.