@darkpeak on GBPUSD | PriceONN Community

Oh wait, actually looking closer at the 1.33 level, it's not just the 50 SMA but also sitting right on the S1 pivot. That's a pretty strong confluence for support. I was thinking of a long entry if we held above it, but now I'm reconsidering. If the dollar continues to strengthen, it might just punch through. I've put a buy limit order just above it, around 1.3320, but I'm ready to cancel it in a heartbeat if the price action looks weak. Risk management is everything, right? Especially with these major pairs.

Interesting observation @darkpeak. That inverse H&S on the H1 is definitely something to watch, especially with the neckline at 1.3375. You're right, the confluence around 1.33 with the 50 SMA and the S1 pivot is a solid support zone. I've actually just entered a long there myself at 1.3325, targeting that neckline resistance. It's a bit early to confirm the pattern, but the risk-reward seems favorable if we can get a push higher from here.

Hey @darkpeak, I saw your comment about the inverse H&S pattern on the H1. I was looking at it too, and that resistance at 1.3375 is definitely crucial. It's interesting that you're seeing confluence around 1.33 with the 50 SMA and the S1 pivot. I was actually thinking of shorting if it broke below that level, given how the DXY has been strengthening with all this geopolitical stuff going on. The yen slide is also making me a bit nervous about overall market sentiment. If it does manage to hold that 1.33 support and breaks the neckline, then yeah, a move higher is possible. But with the current uncertainty, I'm not sure it will get there easily. It feels like the safe-haven demand for the dollar is pretty strong right now.