Hey traders, Just wanted to share my quick thoughts on this GBPUSD H1 chart and how I’m reading the current price action. Overall, this pair has been moving in a pretty tight range, and it feels like the market is still undecided. We’ve seen some sharp moves recently, but follow-through has been weak, which tells me big players might be waiting for a stronger catalyst before committing fully.
Looking at the chart, price is hovering around the middle of the Bollinger Bands. That usually signals consolidation, and that’s exactly what we’re seeing here. Earlier, we had a strong bullish push that took price toward the upper band, but sellers stepped in quickly and pushed it back down. The drop was aggressive, but again, it failed to continue lower and bounced from the lower band area. This back-and-forth movement shows a classic ranging market rather than a clean trend. The moving averages are also pretty flat and tangled with price. When MAs start moving sideways like this, it usually means momentum is weak. Bulls and bears are fighting, but neither side is winning clearly. For trend traders, this is not the best environment. For range traders, though, there are still opportunities if entries are taken carefully near support and resistance zones. RSI is sitting close to the 50 level, which further confirms the neutral bias. We’re not seeing extreme overbought or oversold conditions, so expecting a big impulsive move right now might be risky. Instead, patience is key. I’d personally wait for RSI to break and hold above 60 for bullish confirmation or below 40 for bearish confirmation. From a trading perspective, buying right in the middle of the range doesn’t make much sense to me. I’d rather wait for price to either retest the lower band and show bullish rejection or break above recent highs with strong volume and candle closes. A clean breakout with confirmation could open the door for a nice intraday move. For now, GBPUSD looks like a “wait and watch” pair. Manage risk tightly, don’t overtrade, and let the market show its hand first. Sometimes the best trade is no trade at all. Stay safe and trade smart.
