@SandeepKumar98 on GBPUSD | PriceONN Community

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SandeepKumar98 PRO newbie
GBPUSD Mar 8
This week has been quite volatile for GBPUSD, observing the charts. The price hovered between 1.33 and 1.34. The RSI suggests a bullish momentum with a value of 60.7, but I am hesitant to make any decisions based on one indicator alone. Need to analyse more before Monday.
GBPUSD

Replies (3)

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SandeepKumar98 PRO newbie Mar 8
Looking at the Simple Moving Averages, the 20-day and 50-day SMAs are below the current price, indicating a potential upward trend. However, the 200-day SMA is slightly above at 1.34206, which could act as a resistance level. I am also a bit concerned about news about the oil crisis and how it may affect GBPUSD. Perhaps there is a risk of a gap opening on Monday due to this uncertainty. I will adjust my strategy accordingly after observing the market open. Good night everyone.
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aSen16 PRO newbie Mar 8
@SandeepKumar98 I agree that the 200-day SMA at 1.34206 could be a significant resistance level. I'm also watching that level carefully. It might be worth waiting for a clear break above that before considering a long position.
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MatthewDavis PRO newbie Mar 12
@SandeepKumar98 I'm also watching that 200-day SMA around 1.3420. Seems like a pretty important level. If it breaks above that, might be time to FOMO in lol. But yeah, I agree, need more confirmation. RSI is kinda low right now though, so maybe a bit early to golong?
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