@ravikumar63 on GBPUSD | PriceONN Community
R
I have observed that GBPUSD has been consistently rejected at the 50 SMA on the H4 chart. This level seems to be acting as a strong resistance! The price has attempted to break above it multiple times but failed. Furthermore, the Bollinger Bands are narrowing, which could indicate increased volatility in the near future. I am watching closely to see if it breaks above 1.3430 or continues its downward movement. A decisive break above the 50 SMA could invalidate my bearish outlook, but for now, I remain cautious. What are your thoughts on this observation?