@schen570 on GBPUSD | PriceONN Community

One more thought on GBPUSD... I'm considering a long position if we see a clear breakout above 1.3650, but I'll be setting a tight stop-loss, probably around 1.3630, to protect against any false breakouts. The Bollinger Bands are also something to consider, the price is right in the middle, so volatility could pick up soon. I'll be monitoring the D1 chart for confirmation before making any moves. Patience is key, as @CalmBear8 rightly pointed out. Still, I feel like there is a good opportunity here if the cards line up correctly. Also considering a small options play on this, something OTM for a bit of leverage.

Adding to my earlier GBPUSD analysis, I'm also keeping an eye on the SMAs. The 20 and 50 are relatively close, suggesting potential consolidation before a bigger move. The 200 SMA is also in the mix, so we've got a confluence of moving averages that could act as support. I think the key will be volume; a surge in buying pressure could confirm the bullish bias and push us past the 1.3650 resistance. If volume remains low, we could see a pullback to test those SMA levels.

@schen570 I agree, 1.3650 is key. But RSI is almost at 60, that's a strong bullish signal. I'd be looking for a breakout early next week, maybe a small gap up on open. Set some alerts just in case.