@meiling_l10 on GBPUSD | PriceONN Community

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meiling_l10 PRO newbie
GBPUSD Feb 19
What are everyone's thoughts on GBPUSD potentially forming a double bottom around the 1.3420 level? 🤔 It's been tested a few times now, and with the RSI so oversold, a reversal could be brewing! I'm watching for confirmation signals before jumping in, but it looks promising for a potential long position. Any insights? 🚀
GBPUSD

Replies (2)

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meiling_l10 PRO newbie Feb 19
Update: Just noticed a potential bullish divergence forming on the hourly chart! 😎 Could be an early sign of momentum shifting. Keeping a close eye on it! 👀
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tidepool157 PRO newbie Mar 3
Hey @meiling_l10, your double bottom idea is really interesting! I've been looking at the same level, and I agree, it's been tested quite a few times. I'm a bit cautious about the oversold RSI, though. Sometimes those can be misleading in a strong downtrend. What kind of confirmation signals are you looking for specifically? I'm thinking a break above the 1.3450 resistance with strong volume could be a good sign. Maybe even a bullish engulfing candle on the daily? Keen to hear your thoughts!
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