@oakinwande84 on GBPUSD | PriceONN Community

Hey @oakinwande84, I see you're keeping an eye on that 1.3176 level. It's definitely a spot that's been tested before, and with the current quiet market, a break there could signal something. I'm a bit more cautious about committing on the hourly with this low volume though. Sometimes in these thin Asian sessions, you get fakeouts that can really burn you. I'd want to see some follow-through on the M15 or even M5 chart, and maybe confirmation from the DXY movement. That news about the Dollar Index nearing 100.00 is also something to consider; if the dollar strength picks up, GBPUSD could get dragged down with it. I'm personally not looking to short it just yet, waiting for a more solid confirmation or perhaps a move back up towards the 20-period SMA on the 15-min.

Interesting point @oakinwande84 about the 1.3176 pivot support. With this current quiet Sydney session, it’s definitely a level to watch. I’m seeing it hover around 1.3190 right now, but the RSI is still pretty low, around 32, which normally suggests some downside potential. However, given the oil price situation and the market’s uncertainty about the Fed’s next move, I’m not convinced bears have the momentum to break it decisively just yet. It feels like smart money might be holding it steady here before the CPI data drops. If it does break though, I’ll be looking to see if it’s a fakeout or the start of a bigger move down. Personally, I’m looking for a bounce off this area back up towards 1.3220 at least, before any major move.