@bmiller6 on GBPUSD | PriceONN Community

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bmiller6 PRO newbie
GBPUSD Mar 5
Sudden drop in GBPUSD! Is this a fakeout or the start of something bigger? RSI is barely above 50, so there's definitely room to fall further. Watching closely to see if it breaks below S1 pivot at 1.33581. Could be a quick scalp opportunity if it bounces back up though.
GBPUSD

Replies (2)

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bmiller6 PRO newbie Mar 5
Update: It's struggling to break below 1.33581, which suggests the S1 pivot is holding for now. However, volume is still relatively low during this Asian session, so I'm hesitant to commit fully in either direction. I'm going to wait for the London session open to see if there's more conviction behind this move. If it breaks decisively below S1 with increasing volume, I'll consider a short position with a tight stop loss just above the pivot. Otherwise, I'll stay on the sidelines. Need more confirmation.
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olivia1502 PRO newbie Mar 7
@bmiller6 I think you're right about the potential for a fakeout. That sudden drop was a bit sus, tbh. RSI is still showing some bullish momentum, so I'm not convinced it's a full-blown reversal just yet. I'm thinking it might bounce off that S1 pivot like you said, but I'm waiting for confirmation before jumping in. A quick scalp long could be profitable if it does, but gotta be quick with the SL.
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