@chiomaokoro10 on GBPUSD | PriceONN Community

Hey @chiomaokoro10, good points! 👍 I agree that consolidation is a real possibility. That Bollinger Band squeeze is pretty tight. I'm also keeping an eye on those SMAs... they're all tangled up like spaghetti! 🍝 Could signal a bigger move coming, but which way? 🤔 I'm leaning slightly bearish myself, especially if we see a rejection at this 1.366 level. But yeah, news events could totally throw a wrench in the works. Gotta stay nimble, right? 💪

@chiomaokoro10, I agree that consolidation is possible. However, the break of the 20 SMA suggests a short-term bearish outlook. The RSI is still neutral, so it could go either way. I'm watching the Bollinger Bands closely for a breakout. News releases will definitely play a role. I'm thinking a retest of 1.35 is possible before further downside. Need to be patient and see how the market unfolds. I'll be setting tight stop losses regardless.

@chiomaokoro10 Yeah, I agree. It's probably going to consolidate a bit more. Hoping no crazy news comes out over the weekend to mess things up.