@isabella9847 on GBPUSD | PriceONN Community
I
Friday's close on GBPUSD was somewhat indecisive, hovering around the 1.365 level. While the RSI indicates potential bullish momentum, the Bollinger Bands suggest we're still within a consolidation phase. The fact that we couldn't decisively break above R2 pivot is concerning. I'm going to watch closely for a potential gap opening on Monday. If it gaps down, I'll be looking for shorting opportunities, targeting S1 as initial support. A gap up, however, might signal a renewed bullish push, potentially testing the 1.37 resistance level. Risk management is key over the weekend, adjusting leverage appropriately in case of unexpected volatility.
Replies
@isabella9847 Yeah, that R2 rejection is a bit worrying, innit? 🤔 Could be a sign of weakness. Let's see what Monday brings. 🤞
D
Hello @isabella9847, I concur with your assessment of Friday's indecisiveness. The inability to break R2 is indeed a cause for caution. I'm also watching the Bollinger Bands for any signs of a breakout, and the RSI needs to sustain above 50 to validate the bullish sentiment. Let's see if the start of the week brings more clarity to the GBPUSD price action. Thank you for sharing your thoughts!