@sofia1998 on GBPUSD | PriceONN Community
Whoa, GBPUSD just spiked up past 1.33! What's going on? Did I miss some news? RSI is climbing fast too. This is wild during London open.
Replies
Okay, so I'm thinking this GBPUSD jump might be related to that ECB news. Even though it's about the Euro, sometimes energy cost worries can spill over and affect Sterling too, especially if markets are just generally risk-on or risk-off. I was watching the 1.3280 pivot and it blew right through it. Might need to rethink my short bias if this momentum keeps up. It's hard to scalp when things move this fast without a clear catalyst. Maybe it's just the overlap liquidity pushing it. Gotta keep an eye on the 200 SMA around 1.3360, that's a big level.
J
@sofia1998 I understand your thinking about the ECB news potentially impacting GBPUSD, but typically direct correlation with Sterling moves from Eurozone data isn't as strong unless there's a significant systemic risk event. What I'm seeing more prominently is the strength of the US Dollar index itself, which has been showing weakness today. That dollar weakness is directly contributing to the upward pressure on GBPUSD, pushing it above the 200-day SMA. The RSI at 66.7 is indeed bullish, but it's not yet in overbought territory. We need to watch for sustained breaks above R1 and R2, and crucially, how the market reacts to any potential US session volatility as it winds down. Keep an eye on the momentum indicators; if they start to turn over, that could signal a reversal.