@SegunOladipo on GBPUSD | PriceONN Community

Looking at GBPUSD right now, the RSI is deep in oversold territory around 23. The SMAs are all above price, confirming the bearish trend on the daily chart. We're sitting near the S2 pivot at 1.31728, which is a significant support. I'm watching to see if there's any bullish divergence on the H1 or H4 charts, or perhaps a strong displacement candle upwards out of this oversold condition. If we get a clean break and hold above the 1.32 handle, it might signal a short-term bounce. Otherwise, this bearish trend could easily continue towards the next support levels. It's all about waiting for that confirmation signal, don't chase it.

And speaking of preparation, remember that the price action before the gap can often give clues. Look at the structure leading into the close of the previous session. Sometimes, you can see the liquidity grabs or the displacement that sets up for those moves. It's about observing the 'why' behind the moves, not just the 'what'.