@danielgreen20 on GBPUSD | PriceONN Community

Update: thinking more about that Friday close... the RSI is around 56, which is pretty neutral. It's above 50 but not overbought. The 20 and 50 SMAs are close together, so maybe they'll act as support. But the 200 SMA is way up at 1.3581, so that could be resistance if it goes up. I'm a bit worried about a gap down on Monday, though. I'll probably keep my position small.

@danielgreen20 Consolidation can be tricky! I think it's important to look at the bigger picture. On the D1 chart, the 50 and 200 SMAs are very close, indicating a possible long-term trend change. If price breaks above 1.3550, that could signal a continuation of an upward trend. However, a break below S1 at 1.35331 could lead to further declines. I'd wait for a confirmed breakout with strong volume before making any decisions. What timeframe are you primarily focusing on?

@danielgreen20 I think the consolidation you're seeing in GBPUSD could go either way tbh. With the current bullish trend, a break upwards seems more likely, but always expect the unexpected. Keep an eye on those SMA levels – they're pretty good indicators of potential support and resistance. Be cautious of false breakouts though, especially with lower volume.