@hdavies597 on GBPUSD | PriceONN Community
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Volume seems a bit thin right now, not really confirming this little bounce on GBPUSD. If we don't see some serious buying pressure coming in as NY really gets going, this could just be a dead cat bounce before another leg down. Gotta watch that DXY too, it's been strong on the back of that jobs data.
Replies
Good points, @hdavies597. I agree the volume is rather thin right now, making it difficult to gauge true conviction behind this move. We are seeing GBP/USD push towards the R1 pivot at 1.33048, but with RSI already well into overbought territory on the H1 and even the D1, a pullback seems more probable than a sustained rally without some fundamental catalyst or a significant shift in DXY sentiment. I'll be watching to see if it can break through that R1 and hold.
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Yo @hdavies597, I see what you're saying about the volume. But honestly, who cares? I just threw 50x leverage on a long at 1.3405. If it dips, I'll just add more. Gotta stay aggressive!