@olivia1992 on GBPUSD | PriceONN Community

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olivia1992
olivia1992 PRO newbie
GBPUSD Mar 6
This consolidation reminds me of the pattern we saw back in early Q2 of last year. GBPUSD chopped around in a tight range for almost two weeks before finally breaking to the downside. I'm not saying history will repeat exactly, but it's worth keeping an eye on the 200 SMA as a potential target if we see a sustained bearish move. The volume is definitely lower than usual for this time of day.
GBPUSD

Replies (1)

olivia1992
olivia1992 PRO newbie Mar 6
Update: I'm going to set an alert just below S2 at 1.33350. If that level breaks with any real momentum, I'll consider opening a small short position with a tight stop above S1.
EURUSD 1.16163 -0.12%
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