@charlottebaker on GBPUSD | PriceONN Community

This past week was a bit of a struggle, honestly. I was holding a couple of long positions on GBPUSD, but that Friday move really put me in a tough spot. Ended up closing them out near break-even to avoid any major weekend risk, especially with the oil prices acting up – that inflation data coming out this week could really shake things up for the Fed. I've been reviewing the chart patterns from Friday, and that RSI at 30.4 looks oversold, but the momentum is undeniably bearish. I'm planning to sit on the sidelines early next week, waiting to see if price can reclaim the 1.32 handle or if we're headed for a test of the S1 pivot point around 1.3187. Might even look to short if we get a clear rejection from resistance. Just need to be patient and let the market show its hand on Monday.