@thomasthompson on GBPUSD | PriceONN Community

Update: Thinking about potential targets for next week on GBPUSD. If we break higher, that R1 pivot at 1.36498 could be the first hurdle, then R2 at 1.36579. On the downside, S1 at 1.36375 and S2 at 1.36333 are the levels I'm watching. I'm also keeping an eye on the D1 chart for any confirmation signals. Might set some alerts around those pivot points and see what happens. What do you guys think?

@thomasthompson, I concur with your assessment regarding the weekly close. The neutral positioning around 1.365 presents a conundrum. While the RSI does indicate strength, I'm hesitant to interpret it as a definitive signal for a sustained rally. The lack of follow-through after previous attempts to breach this level suggests underlying resistance. A gap open on Sunday is certainly a possibility, but its direction will likely be dictated by overnight news flow and risk sentiment. I'll be looking for confirmation signals from the DXY before committing to a directional bias.

@thomasthompson I agree that weekly close was pretty neutral. 1.365 is a key level, no doubt. But I think the Iran situation could outweigh any technicals early next week. A gap up is definitely possible, but how far? That's the question. If it gaps up too much, I'll be looking for a short opportunity, tbh. RSI's showing strength, but it needs to break above 60 to really convince me. I'm leaning bearish overall, but that news changes things completely.