@brittany1994 on GBPUSD | PriceONN Community

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brittany1994 PRO newbie
GBPUSD Apr 1
Watching GBPUSD on the H4 chart, I'm seeing what looks like a descending wedge forming after the recent push up. The RSI is holding steady around 56, which is neutral but not showing any strong overbought or oversold conditions yet. If we break out of this wedge to the upside, I'll be looking for confirmation around the R1 pivot at 1.33068. Might be a good swing opportunity if it plays out.
GBPUSD

Replies (1)

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stephanieallen98 PRO newbie Apr 1
Yo @brittany1994, a descending wedge on H4 in this quiet session? Interesting. I'm not seeing a textbook wedge myself, more like just chop city 🌃. But hey, if you've got conviction and see that breakout coming, send it! Just make sure your SL is tight, this Sydney liquidity is thinner than my wallet after a weekend.
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