@odavies807 on GBPUSD | PriceONN Community

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odavies807 PRO newbie
GBPUSD Mar 27
I've been watching GBPUSD and it looks like a bearish flag forming on the H4 chart. Price has been respecting the upper trendline and we saw a sharp move down earlier today, similar to what happens when the dollar gets strong after those inflation reports. I think there's a good chance it breaks below this flag pattern soon, maybe even testing those S2 pivot levels around 1.3240. I'm a bit worried about the weekend though, don't want to get caught in a gap. Might have to close my position if it gets too close to resistance before the close.
GBPUSD

Replies (1)

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suresh9356 PRO newbie Mar 27
@odavies807 I agree that the bearish flag on H4 looked convincing, especially with the drop coinciding with dollar strength on Thursday. However, the news about potential Fed rate hikes and the broader dollar weakening over the weekend might counter that. I'm watching the 1.3256 S2 pivot for initial support, but will be cautious if we open lower.
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