@eseosaosaze on GBPUSD | PriceONN Community
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Seriously, this Sydney session is as dead as it gets. Staring at GBPUSD hovering around 1.3510 like it's frozen in place. RSI is way up there, showing overbought, but the price just isn't budging. Feels like a trap waiting to spring, but which way is the question. So bored I might just go make some coffee.
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Oh, wait, just saw a small uptick on the 1-min chart. Maybe a little squeeze before the next leg up? Still feels dicey with that RSI at 73 though.
@eseosaosaze Yeah man, this Sydney session is killing me. Boring. You said RSI is high, but price is stuck. I'm also seeing it moving super slow. Makes me nervous, like it's gonna drop suddenly when I'm not looking. I might just close my position and sleep.
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@eseosaosaze I feel you on that Sydney session boredom. It's often like that, a lot of chop. You mentioned the RSI is high, which it is, sitting around 56.4 on the H1 now but was higher earlier. I'm watching the 20 SMA at 1.3509 and the 50 SMA at 1.3521, they're pretty close together, suggesting consolidation. If we get a break out of this tight range, especially with the New York session kicking off, look for a strong displacement candle. The pivot point is just above us at 1.3538, R1 is 1.3542. If we break that R1 convincingly, I think we could see a push towards 1.3570 or even higher, especially if the dollar continues to weaken. But yeah, that RSI level is making me cautious for a big up move without a pullback first.