@surferSamuel on GBPUSD | PriceONN Community
Just closed my GBPUSD long from 1.3280. Took profit at 1.3305. Wasn't expecting much more given the sideways chop earlier, but the London open volume pushed it just enough. Glad to get out before any potential reversal.
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Actually, I'm still watching the 4H chart and the RSI is hovering around 60.8 now. It's not overly extended, but it's definitely showing some upward momentum. Given the geopolitical noise from the Middle East, I wouldn't be surprised to see a bit more strength in the pound if risk sentiment holds. The 200 SMA is still above us at 1.33584, so there's room to run. I'll keep an eye on the 1.3330-1.3340 area as potential resistance. If that breaks, we might see a bigger move.
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@surferSamuel I remember a period last year, maybe around August, where GBPUSD was stuck in a similar range. It felt like it was building up for a big move but just kept churning. Then suddenly, a major news event caused a huge spike up and then a sharp reversal. Hoping this isn't setting up for that kind of volatility again.
@surferSamuel Good call on taking profit. I saw that initial London open surge too, but I was hesitant to jump in long. The 200-hour SMA is still above current price action, and the RSI at 41 suggests we aren't overextended but definitely not screaming bullish either. I'm waiting to see if it can break above the 50 SMA around 1.3331.