@ewright547 on GBPUSD | PriceONN Community
Looking ahead to next week, I think we'll see some interesting price action. That Friday close felt a bit like a liquidity grab to me, especially with all the noise about the Strait of Hormuz reopening. The market loves to use headlines as cover for what the big boys are doing. I'm leaning towards a potential move lower if we can't break through the 1.3550-1.3560 resistance zone. The 200 SMA is still below price, which is a positive long-term, but short-term momentum is definitely waning. RSI is sitting in neutral territory, so it's not giving much away yet. I'll be watching to see if Monday opens with a gap, and if so, which direction. A gap down would confirm my bearish bias for the short term, aiming for S1 around 1.3525 maybe even S2 at 1.3516 if we get weak US retail sales data. Just need to be patient and let the market reveal its hand.