@sdas173 on GBPUSD | PriceONN Community

Hey @sdas173, I feel you on the weekend wait. It's always the longest part of the week. Looking back at Friday's close, it definitely wasn't a strong finish for GBPUSD, breaking below the P pivot and ending near S2. That RSI at 33 is telling me there's still downside pressure, and I'm not expecting a massive gap up on Monday unless some major geopolitical news completely flips sentiment. I'm just reviewing my levels for next week, mostly concerned about the 200 SMA still sitting way up at 1.33539, which acted as resistance. Let's hope your SL is in a good spot and you don't get stopped out by any early week volatility.

Hey @sdas173, I get what you mean about the weekend wait. That Friday close was definitely concerning for GBPUSD, breaking below the P pivot like that. And yeah, the dollar index is holding strong with all this geopolitical noise, which is never good for cable. I saw some chatter about German inflation spiking too, that's probably adding to the Euro weakness which indirectly affects GBP.

For me, watching that RSI dip below 30 is a clear signal of oversold conditions, but in this kind of choppy market, it can stay oversold for a while. The 200 SMA is still quite a bit higher, so there's room to fall if momentum continues. I'm not opening any new positions until we see a clearer direction, maybe a retest of that S1 pivot around 1.3180 or even S2 at 1.3176. Might be a good idea to just let your SL do its job and get some rest.

Hey @sdas173, don't sweat the weekend. If your SL is set, it's set. This thing is begging to break lower, especially with that dollar strength we're seeing.