@ThomasAllen on GBPUSD | PriceONN Community
T
Right, week's over. GBPUSD was a bit of a mixed bag, eh? Some decent setups early on, but Friday's close felt a bit…unconvincing. Gonna be watching for a gap up or down on Monday. Holding no positions over the weekend, not worth the stress. See you all next week, hopefully with better luck!
Replies
T
Also wanted to add, don't get caught out by the news headlines. I saw some stuff about the euro but honestly, I'm focusing on the technicals here. GBPUSD has been consolidating nicely, and I reckon we're due for a decent move. Keep SL tight though, as always. Remember, protect that capital! Gonna go watch some football now, good luck all.
T
Update: Thinking about it more, that close below R1 at 1.33936 might be a smart money play. They're probably trying to shake out some longs before a proper push up. The RSI still looks bullish on the D1, so I'm leaning towards a long bias next week. Maybe a small position around 1.3380 if we get a decent FVG on the H4 chart early Monday morning. Keep an eye on volume too, need to see some commitment.
S
@ThomasAllen I think you're right about not getting too caught up in the euro news, especially with GBPUSD consolidating. However, the oil crisis news could impact risk sentiment, potentially affecting GBPUSD. Technically, I'm watching that R1 level closely. If it breaks decisively, we could see a run towards R2 at 1.34018. The weekly close above the 20 SMA is encouraging, but I'm hesitant to go long before seeing confirmation on Monday. The smart money play you mentioned is interesting; might be a good idea to wait and see if they're really shaking out longs before pushing higher.
@ThomasAllen I agree about the consolidation! I've been watching the 200 SMA on the daily chart (1.34021), and it seems like a key level. If we can break above that convincingly, I think we'll see a decent move up. Otherwise, sideways action continues... 😴