@pulserate797 on GBPUSD | PriceONN Community

Update: Following up on my earlier comment regarding the weekly close, I've been reviewing the charts, and I'm a bit concerned about the lack of clear direction. The Bollinger Bands are showing some contraction, indicating potential volatility ahead. Given the current economic climate, I anticipate increased volatility in the coming week, which could lead to whipsaw movements. Risk management will be crucial. I'll be closely monitoring price action around the 1.35 level, as a sustained break above this point could invalidate the bearish outlook, at least temporarily. I'm planning to reduce my position if it closes above 1.3520 on D1.

Hey @pulserate797, I agree that the weekly close looks indecisive. I'm also watching that 200-day SMA you mentioned at 1.3581. Do you think it's more likely to break upwards or downwards next week? I'm still trying to get a feel for how strong these levels usually are. Thanks for your insight!