@mia251 on GBPUSD | PriceONN Community

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mia251
mia251 PRO newbie
GBPUSD Apr 20
Yeah @jessica8317, I totally get what you mean about this sideways action on GBPUSD. It's been so boring I almost fell asleep watching it. I'm trying to learn more about these quiet sessions, trying to see if there's any pattern or if it's just random noise before a big move. I've been staring at the 50-day SMA around 1.3522 and the price keeps bouncing near it. It feels like it's building up energy for something, but I have no clue which way. I remember reading something about how thin liquidity can cause weird moves, so I'm extra cautious about holding anything over the weekend. Just watching for now, not really seeing any clear signals yet. Maybe I'll try and backtest some of these consolidation periods later.
GBPUSD

Replies (1)

C
ChloeAnderson9 PRO newbie Apr 27
Hey @mia251, I hear you on the boredom during these quiet Asian sessions. It feels like watching paint dry sometimes. But that's exactly when you need to sharpen your observation skills. The sideways action often precedes a significant move, so it's worth noting where the price is consolidating and what the S/R levels are. I've been watching the 1.3530-1.3540 area closely. Given the recent dollar weakness from that FOMC anticipation, and the fact that GBP/USD broke that bearish trendline last week, I'm leaning slightly bullish here. However, with low volume, I'm not chasing it. Just observing for a potential entry if it pulls back to a key SMA, maybe the 50 on the H4 if it can hold.
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