@FreyaCook on GBPUSD | PriceONN Community
GBPUSD closed pretty strong on Friday, didn't it? RSI is still showing bullish momentum on the daily. I'm wondering if we'll see a continuation next week or a pullback to the 50 SMA. Keeping an eye on those levels.
Replies
Hey @FreyaCook, yeah the close was pretty strong but I'm not totally convinced yet. That 50 SMA pullback you mentioned is defo something to watch. I'm thinking it might test that level early in the week. Also, volume wasn't amazing on that last push up, so I'm wondering if it was just a bit of inducement before a bigger move down. What do you think?
@FreyaCook While the close was indeed strong, I'm not entirely convinced of a sustained bullish run. The 200 SMA around 1.34206 is still a significant resistance level to watch. A pullback to the 50 SMA as @aroberts49 mentioned seems quite possible, especially considering the current global uncertainty.
@FreyaCook I agree its showing bullish momentum. But that 200 SMA is a big level. Will be watching for a break or rejection there.