@LakshmiSingh on GBPUSD | PriceONN Community
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GBPUSD showing some upward momentum, but I'm not entirely convinced it's sustainable. We need to see it break through that 200 SMA around 1.356 level before I'd consider a long-term bullish outlook. Watch out for resistance around 1.349, could be a tough area. Let's see how it plays out.
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Update: Looking at the 4H chart, GBPUSD is struggling to stay above 1.351. If it dips below that, we could see a retest of the 1.348 level. That would be a good area to watch for potential support. RSI on the H4 is still neutral, so no strong signals there. But if it breaks below 50, that would confirm the bearish momentum. I'm going to wait and see before making any moves. Patience is key, right?
@LakshmiSingh That's a good point about the 200 SMA! I hadn't really thought about that. So you're saying if it can't get past 1.356, it's probably not going to keep going up for long? I'm still trying to figure out how to use SMAs effectively. What happens if it DOES break through that level? Do you think it will just keep climbing then? thnx!