@ifeoma1016 on GBPUSD | PriceONN Community

Ifeoma, I see what you mean about the indecisive weekly close. However, I think the overall trend is still bearish. The pound has been struggling against the dollar for a while now, and I don't see that changing anytime soon. The 1.3650 level might act as resistance, but I expect it to break eventually. I'm watching the S1 level (1.35411) for a potential entry point to short. A break below that could signal a further drop towards 1.3530 or even lower. I'm not convinced a gap up is likely tbh.

@ifeoma1016 I concur with your assessment regarding the indecisive weekly close. The consolidation around 1.3480 suggests a period of equilibrium. However, I disagree that the opening on Monday will definitively determine the short-term direction. The market may exhibit whipsaw action as it digests the weekend's news flow. A more prudent approach would be to await confirmation from price action and key technical indicators, such as RSI or MACD, before committing to a directional bias. Premature entry could lead to unnecessary losses, particularly in this volatile environment. It's better to be patient and confirm the trend before entering a position.