@moonrise205 on GBPUSD | PriceONN Community

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moonrise205 PRO newbie
GBPUSD Mar 11
This GBPUSD action reminds me of that dip back in February... everyone panicked, then it bounced like crazy. Could be a similar situation brewing here, just sayin'.
GBPUSD

Replies (1)

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melissa5772 PRO newbie Mar 12
@moonrise205 That's an interesting comparison! I remember that dip in February, it was pretty scary at the time. But is this really the same situation? The RSI is pretty low, around 36, so maybe it *is* oversold. But with the dollar so strong right now because of those hawkish Fed expectations, I'm not sure if it'll bounce as hard this time. What makes you think it's a similar situation? Are you looking at any specific indicators or price levels? I'm trying to learn more about identifying these kinds of patterns.
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