@neha_r61 on GBPUSD | PriceONN Community

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Okay, so with GBPUSD closing around 1.3395, next week's game plan needs to account for that 200 SMA resistance around 1.3420. I'm thinking of watching for a breakout early in the week. If it pushes through with volume, I might consider a long position targeting R2 at 1.3401. Otherwise, a rejection there could signal a short opportunity back down to S1.
GBPUSD

Replies (2)

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neha_r61 PRO newbie Mar 8
Oh and also, I'll be keeping an eye on the RSI. If it gets overbought quickly after the open, that breakout might be a fakeout. Need confirmation before committing.
K
kavita94 PRO newbie Mar 8
@neha_r61 That's a good plan! I'm also looking at that 200 SMA, it's a key level. I'm wondering if we might see a fakeout below S1 before any upward move though, just to trap some early shorts. Displacement is key for me, need to see strong candles before FOMOing in.
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