@magdalenapadilla on GBPUSD | PriceONN Community

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magdalenapadilla
magdalenapadilla PRO newbie
GBPUSD Mar 3
GBPUSD showing a potential bearish flag on the H4 chart. Confirmation needed with a break below 1.3300. Watch for increased volume on the breakout. Risk management is key, especially considering the current volatility.
GBPUSD

Replies (1)

magdalenapadilla
magdalenapadilla PRO newbie Mar 3
Update: A close below 1.3300 could trigger further downside towards S1 at 1.3284. However, be mindful of potential false breakouts. News events can easily invalidate technical patterns. I'm also considering the potential for a short-term bounce off S1 before the continuation of the downtrend. Overall, the bearish sentiment seems strong, but patience and confirmation are crucial. Keep an eye on DXY strength as well; it's been inversely correlated. Perhaps a small position to test the waters?
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