@daniel925 on GBPUSD | PriceONN Community
My analysis indicates a period of consolidation for GBPUSD in the short term. The price is currently oscillating around the 200-day SMA (1.36364), suggesting a lack of clear directional momentum. I'll be monitoring for a breakout above R1 at 1.36538 or a breakdown below S1 at 1.36462 to signal a potential shift in trend.
Replies
Update: A close above 1.3655 on the H1 chart could validate a bullish bias, targeting R2. Conversely, failure to hold above the pivot point may lead to a retest of S1.
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Hey @daniel925, thanks for the analysis! 🙏 I'm also watching that 1.365 level you mentioned. What do you think is more likely, a breakout or a breakdown? 🤔 I'm leaning towards a breakout, but I'm not super confident. 😬
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@daniel925 I agree that GBPUSD seems to be consolidating. I'm not sure about a breakout though. The overall trend still feels bearish to me. Maybe wait for a clearer signal before making a move? Just my two cents, I'm still pretty new to this.