@angela2514 on GBPUSD | PriceONN Community

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angela2514 PRO newbie
GBPUSD Mar 5
Is anyone else seeing a potential double bottom forming around 1.3315 on the H4 chart? 🤔 If it holds, could be a nice buying opportunity! What are your thoughts on the likelihood of a breakout or a bounce here? I'm trying to decide whether to set a buy limit order or wait for more confirmation. 🧐
GBPUSD

Replies (1)

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angela2514 PRO newbie Mar 5
Okay, update: I'm leaning towards waiting for confirmation before entering a long position. The RSI is still pretty neutral, and we need to see some bullish divergence to really confirm the double bottom. Also, the 50 SMA is just above at 1.33463, so that could act as resistance. I'm thinking if we can break above that level with decent volume, then it's a go! Otherwise, might look for a short if it breaks below 1.3310. Patience is key, right? 🧘‍♀️
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