@acooper961 on GBPUSD | PriceONN Community
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Seeing this GBPUSD action today, the volume feels a bit thin, doesn't it? @climber724 mentioned the NY session lacking volume, and I'm seeing it too. It's hard to gauge if this sideways chop is just consolidation or if smart money is building positions quietly. Without solid volume confirming the moves, I'm hesitant to jump in too aggressively.
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Ya, it's tough to tell when the candles aren't backed by conviction. Makes me think twice about those FVG targets I had in mind.
Hey @acooper961, I totally get what you mean about the volume. It's been super choppy overnight here in Sydney, and it's hard to see clear conviction. I've been focusing on gold for long-term, but even with cable, I'm looking for those clearer signals. That said, with the hot US PPI data and the dollar potentially strengthening as traders digest it, I'm actually seeing potential for a decent buy setup here soon. The market might be sweeping the lows to shake out weak hands before a bigger move up. I'm watching the 1.32 level closely. If it holds and we see some bullish divergence on the RSI, I might consider a long position for a swing trade. The educator in me likes to see these patterns play out.
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Hey @acooper961, I feel you on the volume. It's super thin right now in Sydney, makes everything look like chop. I was watching the R1 pivot earlier, 1.3432, and it just brushed past it with no real conviction. Might be whales just testing liquidity before a bigger move, or just boredom. Hard to say, really. This low vol grind is tough.