@DavidPainter on GBPUSD | PriceONN Community
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I've been following some analysis on YouTube suggesting that GBPUSD is likely to test the 1.3300 support level again. The bearish divergence on the RSI, combined with the negative momentum, makes a short-term pullback probable. I'll be watching closely for confirmation before entering a position. A break below 1.3300 could open the door to further downside towards 1.3270.
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Oh, and another thing I forgot to mention about that analysis... They were also pointing out that the 200 SMA on the H1 chart is acting as dynamic resistance. So even if it bounces a bit, I'd expect it to get rejected around the 1.3375-1.3380 area. That's where I'd consider adding to a short position, if it gets there. Still waiting for confirmation though, no need to rush into anything.
Interesting take @DavidPainter. I agree the 200 SMA on H1 is a key resistance. From my chart, it aligns with the upper Bollinger band as well, creating a confluence zone. Looking for a rejection there to confirm a short bias.