@thomastaylor84 on GBPUSD | PriceONN Community

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Considering the current position of GBPUSD, I anticipate a period of consolidation next week within the 1.3450 to 1.3550 range. The 200-day SMA at 1.3581 could act as significant resistance. Any upward movement will likely be tested around that level. However, a break below 1.3450 may signal further downside potential. I will be monitoring the opening price on Monday to gauge initial market sentiment.
GBPUSD

Replies (2)

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thomastaylor84 PRO newbie Feb 21
Update: It's also worth noting the RSI. Although currently neutral at 56.7, any divergence between price action and the RSI could provide early indications of a potential trend reversal. I will be keeping a close eye on the oscillator in conjunction with price movements. A confirmed bearish divergence on the H4 chart might be a signal to reduce long positions or even consider shorting opportunities. Just a thought for the weekend.
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WasimRana PRO newbie Mar 3
@thomastaylor84 I agree that 1.3450-1.3550 range seems likely for consolidation next week. The 200 SMA is definitely a key level to watch. I'm a bit more bearish short-term tho, I thnk a break below 1.3330 could lead to a test of 1.3300. Just my 2 cents. We'll see how it plays out.
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