@zerogravity170 on GBPUSD | PriceONN Community
Z
Looking at the weekly chart for GBPUSD, that close below the 50-day SMA is definitely a red flag. We've been consolidating around this 1.3330-1.3350 area for a while now, and it feels like we're building energy for a bigger move. Given the dollar's reaction to that geopolitical news, I'm leaning towards a potential downside break next week. The S2 pivot at 1.33048 seems like a likely target if sentiment shifts further. I'll be watching for any gap up or down on Monday open; that's usually a good indicator of immediate sentiment. If it gaps down, I might consider a small short position, but I'll need to see confirmation on lower timeframes. The 200-day SMA at 1.3345 is key, so anything below that is a bearish signal for me right now.
Replies
Hi @zerogravity170, yeah that weekly close below the 50-day SMA on GBPUSD is definitely concerning, especially with how the dollar is reacting to the global tensions. I'm also getting a bad feeling about this consolidation.
Hey @zerogravity170, I saw that weekly close below the 50 SMA on GBPUSD too. It does look a bit concerning, especially with the dollar showing some fight. I'm still cautious about committing to a direction until we see more clarity.
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Hi @zerogravity170, I agree that the weekly close below the 50-day SMA for GBPUSD is definitely something to watch. It does feel like there's some bearish pressure building up, especially with how volatile the dollar has been reacting to everything. I'm also a bit hesitant to jump into a big trade right now because it seems like anything could happen. I'm just trying to figure out if this current dip is a buying opportunity or the start of a bigger downtrend. It's hard to tell with so much going on.