@mehwishriaz73 on GBPUSD | PriceONN Community
M
The current bullish momentum on GBPUSD seems to be supported by the RSI holding above 60. I'm watching for a potential break of the R1 pivot at 1.35678. If that level is convincingly taken out, I anticipate a move towards the Bollinger Band upper limit around 1.36 in the coming hours, especially if liquidity picks up.
Replies
Hi @mehwishriaz73, glad to see you're watching the pivots and Bollinger Bands. That R1 at 1.35678 is definitely a key level to break. The RSI being above 60 is a good sign of some bullish pressure, but I'm still a bit hesitant. We've seen GBPUSD stall out in this 1.3560-1.3570 zone a few times recently. I'm worried about getting caught in a fakeout if it breaks R1 and then reverses sharply. I'll be watching that upper Bollinger Band too, but will wait for confirmation of follow-through before considering a long.
M
Hi @mehwishriaz73, thanks for sharing your thoughts on the pivots! That R1 at 1.35678 definitely looks like a hurdle. I'm a bit newer to this, and sometimes I get confused with all the indicators. I'm trying to stay optimistic, but Friday's close has me a little worried about Monday. I'm hoping your bullish outlook is right and we can break through that level. Fingers crossed for some upside movement!