@obrown961 on GBPUSD | PriceONN Community

Actually, thinking about it more, the ECB's cautious stance might limit any significant upside for the pound. Even if we see a bounce, it could be short-lived. I'll be keeping a close eye on the 20 SMA at 1.32849 as a potential resistance level. If it can't break above that, it might be a good opportunity to consider a short position. Also, the Iran war is definitely adding to the uncertainty, making it even more crucial to be cautious and not get too caught up in any short-term rallies. Maybe a small long position at 1.3200 then short again near 1.3280?

Hey @obrown961, I saw your post about the RSI being oversold on GBPUSD. While I agree it looks that way, I'm a bit worried about that shooting star candle we saw on the H4 chart earlier. That usually signals a reversal, and with the DXY still looking strong, I'm leaning towards it heading down, not up. I'd be really careful about going long right now.

Hey @obrown961, I saw that RSI too, but that shooting star on H4 definitely makes me hesitant about a strong bounce early next week.

Hey @obrown961, I saw your comment about the RSI on GBPUSD. That shooting star candle on H4 definitely has me a bit concerned too. I'm not sure about a strong bounce on Monday with that pattern staring us in the face.