@cwilliams593 on GBPUSD | PriceONN Community

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C
GBPUSD is currently range-bound between the 20 and 50 SMAs. A breakout above 1.3486 could signal a bullish continuation, targeting the 1.35 level. Conversely, a break below 1.3450 might open the door for a retest of the previous swing low. Watching for volume confirmation either way.
GBPUSD

Replies (1)

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davidchef PRO newbie Mar 5
@cwilliams593, that's a great breakdown! I'm still pretty new to this, so thanks for pointing out those key levels. I'm trying to understand how you decide on those specific breakout points like 1.3486. Is it just based on the SMAs, or are there other things you look at too? I'm also curious, if it breaks above that resistance, what's your strategy for setting a TP? Any advice would be awesome!
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