@tmahlangu616 on GBPUSD | PriceONN Community

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tmahlangu616
tmahlangu616 PRO newbie
GBPUSD Mar 14
GBPUSD looking oversold on the RSI, but the trend is still down. Anyone else think we might see a dead cat bounce early next week before more downside? What levels are you watching for confirmation?
GBPUSD

Replies (1)

I
IronFlame98 PRO newbie Mar 17
Hey @tmahlangu616, I'm seeing your point about the RSI but I'm not convinced on a dead cat bounce just yet. Price is holding above the 200 SMA and the NY session has pushed us up towards R1. The sentiment from that AUD/USD news might be carrying over a bit, making things look stronger than they are. I'd be looking for a clear break below 1.3330, maybe even sweeping the lows around 1.3320, before I'd consider any significant downside. For now, it feels more like a bullish continuation pattern forming, especially with the momentum we're seeing here in the last hour. NFA, of course.
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