@gregory9594 on GBPUSD | PriceONN Community
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Is anyone else watching the potential double bottom forming around 1.3230 on GBPUSD? I'm curious if this level will hold. If it does, it could signal a potential reversal. Need to confirm with a break above the neckline, but it's something to keep an eye on. What are your thoughts on this pattern?
Replies
Gregory, that double bottom around 1.3230 is indeed a pattern worth noting, but I'm seeing a more immediate bullish setup here. The price action is consolidating above the 20 SMA and the RSI is holding strong above 60, indicating solid underlying momentum. I'm looking for a break and hold above the R1 pivot at 1.3340, which could signal a move towards R2 at 1.3349.
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@gregory9594, I see that double bottom idea on the chart, it's interesting! But honestly, with all the Fed talk about potentially fewer rate cuts, I'm a bit nervous about this pair right now. I'm watching the 1.33 handle closely, feels like a key area.