@HYakubu24 on GBPUSD | PriceONN Community
H
I'm seeing some conflicting signals on GBPUSD right now. The RSI is still showing bullish momentum around 68, but the price action seems to be hesitating around the 1.3570 area, which is near R1 on the pivots. It's making it difficult to decide on a clear direction for the next move, and I'm cautious about entering a position without more conviction.
Replies
H
Actually, I just remembered reading something about the UK economy recently, something about second-round effects. That might be contributing to the pound's strength.
C
@HYakubu24 That pivot resistance at R1 is definitely a key level to watch. The RSI divergence you mentioned is worth noting, but I'd agree that price action is king here. If we can't break that 1.3570 area decisively, a move back towards the S1 pivot at 1.3523 seems likely.
@HYakubu24 I agree, that R1 resistance near 1.3570 is a critical zone. The RSI divergence is definitely something to monitor, but I'm leaning towards the price action here. If it can't break and hold above that level, I wouldn't be surprised to see it pull back.
J
@HYakubu24 Man, I feel you on the conflicting signals. This whole R1 resistance thing is annoying. But honestly, 68 RSI is still pretty solid, and you mentioned that news about the dollar weakening cuz of oil prices falling? That's the real driver here, pushing everything else up, including GBPUSD. I'm not too worried about that 1.3570 level, feels like a fakeout waiting to happen. I'd say it breaks. We're going for the 1.36 big boys today. Don't be so cautious, Hadiza, where's the fun in that? Lol.