@sureshnaidu53 on GBPUSD | PriceONN Community
Friday's close for GBPUSD around 1.3270 was definitely a bit weaker than I'd hoped. The 20-day SMA is still above us, and RSI dipped below 35, reinforcing the bearish tone. We're hovering near that S2 pivot point, so Monday's open is going to be critical to watch.
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Thinking more about that 1.3270 close and the overall bearish lean from the RSI. If we do see a gap down on Monday, which seems plausible given the recent dollar strength and that general risk-off sentiment Vikram mentioned, we could easily test S2 at 1.32562. The 50-day SMA at 1.33314 is now a significant resistance level overhead. I'll be looking for confirmation on the H4 chart if price starts to climb back up, perhaps a MACD cross or a break above the 20-SMA, but for now, the bias remains bearish. Need to see how the market digests any weekend geopolitical developments.