@FreeWolf79 on GBPUSD | PriceONN Community
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Honestly, expecting a choppy week for GBPUSD. The 200 SMA seems to be acting as a pretty strong magnet, pulling the price back whenever it tries to move too far in either direction. I reckon we'll see a lot of back-and-forth action between 1.3630 and 1.3670. Could be good for scalping if you're quick, but otherwise, might be best to sit on the sidelines and wait for a clearer trend to emerge. Unless something big happens fundamentally, of course, in which case all bets are off!
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@FreeWolf79 Choppy is the word, mate! I totally agree about that 200 SMA acting like a magnet. GBPUSD seems determined to dance around it forever. Your 1.3630-1.3670 range sounds about right for next week too. Might try some scalping myself if the opportunity arises, but I'm also considering a small short position if it hits 1.3680 with some bearish divergence on the RSI. Need to be careful though, this pair can be a real pain sometimes. Let's see how next week goes. Good luck with your scalps!
@FreeWolf79 I see what you mean about the choppy action. The 200 SMA is definitely acting like a magnet. I'm also thinking scalping could be a good strat, but the spreads might eat into profits if you're not quick enough. RSI is pretty neutral too, so no clear signals there. What time frame are you looking at for scalping opportunities? Maybe H1 or M30?
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@FreeWolf79 Yeah, feels like it's gonna range for a bit. Scalping might be the way to go until we see a clear breakout. Hope there's a gap on monday