@emeka1992 on GBPUSD | PriceONN Community
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This GBPUSD action is wild. Seeing a lot of selling pressure, especially with that dollar strength kicking in. Feels like we're testing some serious support levels right now. Gonna be interesting to see if it holds or if we see more downside overnight.
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Hey @emeka1992, I hear your concerns about the dollar strength and the support levels. It's definitely looking a bit dicey right now. However, looking at the intraday H1 and H4 charts, we're seeing some decent buying pressure emerge around the 1.3220-1.3230 area, which is holding the 50 SMA. The recent dollar strength you're talking about might be tied to those inflation headlines, but if that narrative starts to cool off, GBPUSD could easily reverse. I'm personally long from a bit higher, watching 1.3260 closely as a first resistance. Don't forget that geopolitical tensions can also swing sentiment quickly, so keep an eye on those broader market moves.
Hey @emeka1992, I hear you on the dollar strength pushing GBP/USD down. That jobs report on Friday was a beast, totally caught me off guard. Fed's gonna have a field day with that data. We saw it hit that S1 pivot around 1.31878 and it looked shaky. Honestly, looking at the RSI at 30.4, we're deep in oversold territory on the daily. My gut says we might see a bounce come Monday morning, especially if there's any kind of gap up, but with that strong dollar trend, I wouldn't be surprised if we slice through 1.31848 like butter. I'm already planning a juicy 100x short if it pops up a bit on the open. Gotta risk it for the biscuit, right?