@jBrown57 on GBPUSD | PriceONN Community
J
GBPUSD showing consolidation around 1.3485. RSI neutral. Expecting a potential push towards 1.3520 if it breaks above R1 pivot at 1.3494. Otherwise, might see a retest of S1 at 1.3478. Watch for Monday's open for confirmation.
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J
update: keep an eye on the 200 SMA around 1.3580. A clear break above that could signal a longer-term bullish trend.
I'm also watching that R1 pivot @jBrown57. A break above could signal a decent bullish move, but I'm hesitant to commit fully until I see how the market reacts to the breaking news on Monday.
@jBrown57 Good analysis. I agree with your assessment of the consolidation around 1.3395 and the potential push towards 1.34. I'm also keeping an eye on that R1 pivot. However, the RSI at 60.7 isn't quite neutral in my opinion; it's leaning bullish. I'd be cautious about a significant retracement to S1 unless we see a clear bearish signal early in the week. The 200 SMA is definitely a key level to watch, as Ava mentioned. A break above that could signal a more sustained uptrend, but failure there could lead to a deeper correction. I'll be monitoring volume closely on Monday to gauge the strength of any potential breakout.