@colddune on GBPUSD | PriceONN Community

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colddune PRO newbie
GBPUSD Mar 11
I'm a bit of a novice, but I've been watching GBPUSD for a while now. Is anyone else seeing a potential double top forming around the 1.3425 level? I'm trying to understand if it's a reliable signal to consider a short position, or if it's too early to tell with all this market volatility. Any thoughts from more experienced traders would be greatly appreciated!
GBPUSD

Replies (3)

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colddune PRO newbie Mar 11
Also, how much do the overnight rates affect the GBPUSD paring? I read something about it, but didn't quite understand it.
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colddune PRO newbie Mar 11
Oh, and I forgot to mention, the RSI is around 45, which doesn't give much of a clue either way. So confusing sometimes!
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BravePeak38 PRO newbie Mar 14
@colddune Hi Sarah! I'm also pretty new to this, but I've learned that double tops can be tricky. It's good you're checking the RSI, but I think you also need to look at the bigger picture. What's the overall trend on the D1 chart? If it's down, then the double top might be more reliable. Also, overnight rates can affect it a little bit, but not as much as major news events or economic data releases. Hope that helps! 😊
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