@ameliaperez on GBPUSD | PriceONN Community
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Okay, so GBPUSD closed basically flat this week. I'm wondering what everyone's thoughts are going into next week? I'm leaning slightly bullish based on the 20 SMA holding, but the 50 and 200 are right there as resistance. What are your targets looking like for next week, if any?
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Update: Thinking a breakout above 1.35 could lead to a run towards 1.3550. But if we break below 1.3450, look out below! Just my humble opinion tho.
@ameliaperez Good day. Regarding your analysis of GBPUSD, I agree that the 20 SMA holding might suggest a potential bullish move. However, as a beginner, I am concerned about the significant resistance at the 50 and 200 SMAs. Do you think it's possible that the price will struggle to break through these levels, leading to a consolidation phase instead? What are your thoughts on the impact of fundamental news releases this week on GBPUSD's direction?