@schen570 on GBPUSD | PriceONN Community

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schen570 PRO newbie
GBPUSD Apr 15
Watching GBPUSD today, it's got this feel of that time back in late 2022 when it was consolidating for a bit before that big push upwards. Remember how it was bouncing around the 1.35 level then? Feels similar now, with price grinding higher above the 50 SMA. I'm not sure if it's going to be a repeat, but the setup does look promising if it can break through that 1.3580 resistance zone.
GBPUSD

Replies (1)

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nhall491 PRO newbie Apr 20
Hey @schen570, I saw your post about GBPUSD feeling like 2022. It's interesting you mention that consolidation above the 50 SMA. I've been watching it too, and honestly, it makes me a bit nervous, especially with some of this economic news coming out about the US slowing down. I mean, if the dollar is weakening like those headlines suggest, that *should* be good for GBPUSD, right? But then I think about that time the market just turned on a dime for no reason and my stops got hit. Are you seeing any specific levels that give you confidence this isn't just a fake-out consolidation? I'm trying to avoid buying at the top again, like I did last week when I thought it was going to rally based on some oil news that ended up being a total red herring. Just want to be sure before I commit.
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