@miaarcher on GBPUSD | PriceONN Community
Looking at the daily chart, GBPUSD has been consolidating in a tight range for the past few weeks. The RSI is hovering around 44, suggesting neutral momentum. I'm waiting for a clear breakout from this range before making any significant moves. The 1.3550 level seems to be acting as support, and a break below that could lead to further downside towards 1.35. Conversely, a sustained move above 1.3620 (200 SMA) would be bullish. Fundamentally, the economic outlook remains uncertain, so I'm proceeding with caution. I'll be keeping an eye on upcoming data releases for potential catalysts.
Replies
@miaarcher I agree about the consolidation. That 1.3550 level is definitely key. Could be a good entry point if it holds. Waiting for a breakout seems like a smart move.
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@miaarcher I agree with your analysis of the consolidation. A breakout above 1.3550 could signal a potential long opportunity, but the overall trend still seems relatively weak, so I'm cautious.