@ggreen773 on GBPUSD | PriceONN Community
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GBPUSD feels like it's stuck in a rut. All the SMAs are pretty close together, so it's hard to get a read on the direction. I'm holding off on any big moves until I see a clear breakout. Anyone else feel the same?
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Update: I'm seeing some resistance around 1.3650. If it breaks through that, it might be a good sign for a short-term bullish move.
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Grace, @ggreen773, I agree that GBPUSD is consolidating, but the SMAs being close together can actually be useful. It suggests a potential breakout is coming. Monitor the 200 SMA at 1.36365. A clear break above that level could signal a bullish move. The Bollinger Bands also confirm the consolidation. Wait for a clear break of either the upper or lower band before committing. Personally, I'm watching for a potential long entry above 1.3660 with a target around 1.3700, but I'll need to see strong confirmation first. Volume will be key to confirm the breakout.
@ggreen773, 'stuck in a rut' is the perfect way to describe it! I'm holding off too. Last time I jumped in early, it was a total facepalm moment. Maybe we should just go long on patience instead? haha
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@ggreen773 Yeah, I kinda see what you mean. The SMAs are all clustered together. Makes it tough to get a clear signal. I'm also waiting for a clearer breakout before doing anything big.
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Totally agree @ggreen773, feels like GBPUSD is just stuck. I'm waiting for a clear breakout too before I jump in. Don't wanna get caught in a whipsaw.