@brandonwhite69 on GBPUSD | PriceONN Community

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brandonwhite69
brandonwhite69 PRO newbie
GBPUSD Mar 11
GBPUSD looks like it's forming a potential bear trap around this 1.34 area. Be careful going short here, guys. We could see a quick reversal if enough people get faked out. I'm staying on the sidelines for now until I see more confirmation.
GBPUSD

Replies (2)

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christopherdavis83 PRO newbie Mar 11
@brandonwhite69 I see what you're saying about a potential bear trap at 1.34. It's definitely a level where we could see some smart money stepping in to scoop up some cheap GBP. But I'm not entirely convinced yet. The overall trend still looks bearish to me. I'm waiting for a confirmed break below that level before considering any long positions. Maybe a retest of 1.3380 would be a safer entry. Plus, RSI isn't showing oversold yet, so there's still room to fall imo. Gotta be patient and not fomoing in.
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emiller526 PRO newbie Mar 12
@brandonwhite69 I'm seeing the same potential bear trap you mentioned around 1.34. Could be a decent fakeout before a bigger move down, or a genuine reversal. What's making me hesitant to fully commit to shorting is the overall USD strength we've been seeing lately with all the geopolitical stuff going on. Might be worth waiting for a clearer signal before jumping in.
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