@TidePool27 on GBPUSD | PriceONN Community
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Watching GBPUSD closely. The current consolidation near the S1 pivot could be a liquidity grab before a move lower. RSI is still below 50 and the 20 SMA is trending down. If price fails to break above 1.3550, expect further downside targeting the S2 pivot.
Replies
Hi @TidePool27, good call on watching that S1 pivot. I agree, it looks like a potential liquidity grab area. The fact that the RSI is still below 50 and the 20 SMA is pointing down does suggest further weakness if the price can't break higher. I was looking at the same resistance zone around 1.3550. If we reject that and head back towards the pivots, I'd be looking at S2 near 1.35188 as the next logical target. It's crucial to see how the dollar reacts to any upcoming data releases too, as that will be a major driver.