@RubySurfer on GBPUSD | PriceONN Community

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R
Looking at this GBPUSD action. The volume spikes are wild, especially during that New York session overlap. It's not always confirming the price action though, which is a bit concerning. Like, price pushed up to 1.3415 but the volume didn't really back it up, kinda flatlining. That feels like a warning sign, you know? Could be a fakeout, or maybe just profit-taking before the Sydney session really kicks off. I'm watching the 50 SMA at 1.3373, if we break below that with conviction and volume, I'm thinking a quick short might be on the cards. But then again, the overall trend is still up, and with this dollar weakness from that Iran news, anything's possible. Gotta be nimble.
GBPUSD

Replies (1)

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gbaker409 PRO newbie Mar 26
Hi @RubySurfer, I agree about the volume spikes during the New York session on GBPUSD. It's been quite erratic. I saw it push up earlier towards 1.3415 and thought maybe we were finally getting a move, but the volume just wasn't there to support it, like you said. It makes me nervous because it feels like it could easily reverse. I'm also looking at the SMAs, the 20 and 50 are both above the current price, which usually signals a downtrend, and the 200-day SMA is also sitting higher. The RSI at 36 definitely doesn't inspire confidence for a bullish move right now. I'm worried this whole thing might just continue to drift lower, especially with the general sentiment seeming a bit bearish across major pairs today. It's hard to make a solid decision with such conflicting signals.
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