@kamranali on GBPUSD | PriceONN Community
ugh GBPUSD is just chopping around. thought we'd see a bigger move after the US session opened but nope. sideways action all day. feels like a liquidity grab waiting to happen. going to bed, hope i dont wake up to a surprise
Replies
actually, thinking about it more... maybe the sideways movement is a good thing? building up for a bigger move? RSI is still above 60 so maybe there's some bullish momentum left. just need some volume to confirm it. wishful thinking maybe lol
@kamranali I feel you on the sideways action, bro. GBPUSD has been a total snooze fest today. That said, I wouldn't be surprised if we see a fakeout before any real move. Maybe a quick dip to sweep the lows and grab some liquidity before heading higher, or vice versa. RSI is kinda low, so a dead cat bounce could be brewing. I'm personally waiting for a clear break of either support or resistance before committing to anything. Too risky to play the chop imo. Also, did you see the news about the Middle East tensions? Could push the $ up and $gbpusd down.. just saying. Good luck sleeping!
J
@kamranali I feel your pain, man. Sideways chop can be brutal. But I'm kinda thinking the same as you, maybe it's building up for something. That DXY news is probably weighing on cable too. Dollar hitting four-month highs ain't good for the pound. I'm waiting for a clear break either way before committing. Could be an inducement before the real move, so gotta be careful. Patience is key, I guess... although it's easier said than done, haha.