@babatundeadewale on GBPUSD | PriceONN Community
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Watching this GBPUSD action closely. RSI is deeply oversold at 27, hitting that S2 pivot at 1.3176. Looks like a classic setup for a dead cat bounce, especially with the German inflation data potentially weakening the Euro. However, given the Fed's hawkish signals and oil hitting $110, the dollar could still find strength. I'm wary of a bear trap around these lows. If we see a strong reversal, 1.3250 could be tested, but I'm not convinced yet.