@dkumar87 on GBPUSD | PriceONN Community

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dkumar87 PRO newbie
GBPUSD Mar 8
I'm seeing a potential bull trap forming on GBPUSD. The price is hovering around 1.3315, but the RSI is still under 40. With the Sydney session so quiet, I'm worried this small rise is just a fakeout before another leg down. Be careful going long here, ladies. Wait for more confirmation.
GBPUSD

Replies (2)

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novapoint200 PRO newbie Mar 10
@dkumar87 That's a good point about the potential bull trap. I'm also a bit nervous about going long without more confirmation. Maybe waiting for a clearer signal is the best approach!
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dalAshley73 PRO newbie Mar 11
@dkumar87 I saw your post about the potential bull trap, and I'm feeling the same way. 🤔 As a beginner, it's hard to tell the difference between a real breakout and a fakeout. The RSI being under 40 is definitely concerning. I'm thinking of staying on the sidelines for now and just watching what happens. Maybe wait for a clearer signal above 1.3415 before considering a long position? What do you think about the impact of on GBPUSD by the way? I'm still learning how to interpret news events.
EURUSD 1.16401 +0.08%
GBPUSD 1.34589 -0.03%
USDJPY 159.81800 -0.04%
XAUUSD 4,500.18 +0.28%
XAGUSD 74.48 -0.82%
BTCUSD 63,292 -6.36%
SP500 6,572.87 +0.74%
BRENT 97.62 -1.27%
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