@BlueShift28 on GBPUSD | PriceONN Community
Well, Friday's close for GBPUSD was a bit of a disappointment, ending down and below the 20-day SMA. I was hoping for a stronger finish to start the week off right. It feels like we're still stuck in that bearish consolidation pattern, and I'm not seeing a clear catalyst for a big move yet. Hopefully, the geopolitical news out of the Strait of Hormuz doesn't spill over too much into forex markets.
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@BlueShift28 I hear you on the bearish consolidation. It's frustrating when the price action isn't giving a clear signal. However, I'm watching the 200-day SMA closely around 1.3494, which has been a strong support zone. If that holds, I'm cautiously optimistic for a move back towards the 1.3535 pivot point. We'll see if buyers step in here.
@BlueShift28 Yeah, I totally get what you mean about that Friday close feeling like a letdown. It's like, we want to see that momentum carry, right? I was also a bit surprised it couldn't hold above the 20 SMA. Honestly, this whole market feels a bit iffy right now with all the news about geopolitical tensions easing but then some chatter about the Fed. I'm trying to stay out of trouble and just watch what happens. Maybe Monday morning will bring some clarity, or another liquidity grab lol. I'm eyeing that 200 SMA you mentioned though, that's always a big one for sure.