@TidePool94 on GBPUSD | PriceONN Community
T
Okay, I'm looking at GBPUSD on the H4 chart and seeing a potential descending triangle forming. The series of lower highs is pretty clear, and we seem to be testing that support level around 1.3350 repeatedly. If that support breaks decisively, we could see a pretty quick move down to the S1 pivot at 1.3336, maybe even further. On the flip side, if we get a strong bounce off that support and break above the trendline of the descending triangle, that would invalidate the pattern and suggest a possible move towards R1 at 1.33765. I'm staying cautious and waiting for confirmation before taking a position.