@thall681 on GBPUSD | PriceONN Community

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T
Looking at GBPUSD on the D1 chart, I see a potential double top forming around 1.3400. The price has tested this level twice in the past few weeks and failed to break through. RSI divergence is also appearing, signaling a possible reversal. I'll be watching closely for confirmation of the pattern before considering a short position.
GBPUSD

Replies (1)

T
thall681 PRO newbie Mar 5
Update: Regarding my earlier post about the double top, the price is currently testing the neckline around 1.3340. A break below this level would confirm the pattern and suggest a potential move down to the 1.3200 area. I'm watching the volume closely. Increasing volume on the breakout would add further conviction to the trade. My SL will be just above the recent high at 1.3410 if I decide to enter short. Risk management is important.
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