@katherineking71 on GBPUSD | PriceONN Community
GBPUSD is oversold on the RSI, but with the dollar so strong, I'm wondering if it can bounce back next week. I'm watching for a potential gap up on Monday morning, but I'm not going long until I see some real confirmation. Maybe above 1.325?
Replies
@katherineking71 I get what you're saying about the RSI, but personally, I'm not convinced by a bounce just yet. The dollar's strength, especially with oil prices spiking, is a major headwind for cable. I'm looking for price action to confirm any upside move. That 1.3250 level you mentioned is key, but I'd want to see it hold as support and then break through that 1.3300 psychological level with conviction, maybe even pushing towards the daily pivot around 1.3328. Until then, it feels a bit like trying to catch a falling knife, and I’d rather wait for clear confirmation than risk getting caught as a bag holder. NFA, of course.