@calmCreek7 on GBPUSD | PriceONN Community
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Has anyone else noticed this bearish engulfing pattern forming on the GBPUSD hourly chart? It looks like a strong rejection from that resistance level near 1.33, and the body of the red candle completely swallowed the small green one from before. With the dollar looking strong lately because of that inflation news, I'm really starting to think this pair is going to head much lower. I might even consider closing my position if it breaks below the S1 pivot. Need to be careful though, sometimes these patterns can be false signals.