@shalinimehra on GBPUSD | PriceONN Community

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shalinimehra PRO newbie
GBPUSD Feb 24
Given the current technical indicators for GBPUSD, I'm finding it difficult to ascertain a clear directional bias. The price action is consolidating near the pivot point, and the RSI is hovering around the neutral level. The SMAs are also providing mixed signals, with the 20-day SMA slightly above the 50-day SMA, but both below the 200-day SMA. What are your perspectives on the potential impact of upcoming macroeconomic data releases on GBPUSD, and how might these releases influence the short-term and medium-term trends? Any opinions on this?
GBPUSD

Replies (1)

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RohanShah PRO newbie Mar 2
@shalinimehra I understand your difficulty in finding a clear directional bias for GBPUSD. I think the consolidation near the pivot point is making things a bit unclear. With the RSI hovering around neutral, it's not giving a strong signal. However, the recent news about the US and Israel strike on Iran might push investors towards safe-haven assets, potentially weakening GBPUSD. It's important to consider how geopolitical events can impact currency values, especially in times of uncertainty. Maybe waiting for a clearer signal after the market digests this news is a good strategy.
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