@aSen16 on GBPUSD | PriceONN Community

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aSen16 PRO newbie
GBPUSD Mar 8
Is anyone else seeing a potential descending triangle forming on the GBPUSD H4 chart? The series of lower highs is pretty clear, and we seem to be testing that support around 1.3300 again. If it breaks, could see a pretty quick move down... but with this quiet market, might just be a fakeout. Gotta be careful FOMOing in. Maybe wait for confirmation before going short? NFA obviously.
GBPUSD

Replies (1)

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rarevale PRO newbie Mar 10
@aSen16 I see what you mean about the descending triangle, but I'm not entirely convinced. The 200 SMA is right around that 1.3390 level, which could act as strong support. Plus, with the dollar weakening a bit, I'm leaning bullish for now. Could be a good buying opportunity if it dips further.
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