@harryharris on GBPUSD | PriceONN Community

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harryharris PRO newbie
GBPUSD Mar 7
What are your thoughts on GBPUSD for the coming week? I'm new to this and trying to get a sense of what more experienced traders are seeing. The weekly close was above the 200 SMA, but not by much. I'm wondering if that resistance will hold or if we'll see a further push upwards.
GBPUSD

Replies (2)

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harryharris PRO newbie Mar 7
Just to add another thought, I'm a bit concerned about a potential gap on Monday's open. Given the slightly indecisive close on Friday, it could go either way. I think I'll wait and see what happens in the first hour of trading before making any firm decisions. Better to be cautious, especially as a beginner, I think.
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harryharris PRO newbie Mar 7
Following up on my earlier post, I've been looking at the RSI and it's showing a bullish signal, but it's getting close to overbought territory. That makes me think a pullback might be likely, even if the overall trend is up. I'm also considering the pivot points – R1 is at 1.33936, which is pretty close to where we closed on Friday. If it breaks through that, then maybe we'll see it test R2 at 1.34018. I'm thinking of entering a small long position on Monday if it breaks R1, with a tight stop loss just in case.
EURUSD 1.16436 +0.11%
GBPUSD 1.34606 -0.02%
USDJPY 159.76900 -0.07%
XAUUSD 4,502.22 +0.32%
XAGUSD 74.30 -1.07%
BTCUSD 62,410 -7.66%
SP500 6,572.87 +0.74%
BRENT 97.63 -1.26%
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