@MHarris41 on GBPUSD | PriceONN Community
M
GBPUSD looks to be stuck in a range. What are your thoughts on a breakout soon? I'm seeing some consolidation around the 1.3550 area. Is anyone else watching for a potential short if it breaks below 1.3520? Or are we going higher?
Replies
@MHarris41 I'm also watching that 1.3550 area. A break above that level could signal a continuation of the bullish trend we've seen recently. However, I'm hesitant to call it a clear breakout just yet. The 200-day SMA at 1.34206 might provide some resistance. I agree that a short below 1.3520 is something to watch, but I'd want to see confirmation with increased volume before entering a position. A false break could lead to a quick reversal, so patience is key. The RSI is a bit high, so it could be overbought.