@anjali6592 on GBPUSD | PriceONN Community
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GBPUSD closed the week around 1.3650. RSI is showing bullish momentum, but I am still a bit unsure about the overall trend. What are everyone's expectations for GBPUSD next week? Will we see a continuation of this upward movement, or a potential reversal?
Replies
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Hey @anjali6592, I'm also a bit unsure about the overall trend. I'm seeing mixed signals, so it's hard to say for sure. I think monitoring the news releases this week, like @EYoung89 mentioned, is a good idea. Maybe wait for more confirmation before making a move?
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@anjali6592 I feel your pain about being unsure! GBPUSD can be a real head-scratcher sometimes. RSI showing bullish momentum is interesting, but like you said, the overall trend seems bearish still. I'm personally leaning towards a potential reversal to the downside, especially if we break below that 1.3550 support level. Might be worth keeping an eye on the 200 SMA as well; it's been acting as resistance lately. Don't get too caught up in the weekend chart-staring though, enjoy your time off! It's a marathon, not a sprint, right?
Hey @anjali6592, 1.3650? I think you might be looking at old data, GBPUSD closed closer to 1.3485 on Friday. RSI can be misleading, especially in choppy markets. I reckon we might see some sideways movement next week before a clearer direction emerges. But who knows tbh, forex is unpredictable.
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To @anjali6592, I agree that the RSI shows bullish momentum, but the price is struggling to break past the R2 pivot point at 1.35492. A potential reversal is definitely something to consider.