@TidePool27 on GBPUSD | PriceONN Community
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Seeing a bearish engulfing candle forming on the H1 chart right now after that small rally. This pattern, combined with the RSI holding below 40, suggests the bears are regaining control. We’ve also had a few failed attempts to push above the R1 pivot at 1.3534. If this candle closes below 1.3525, it’s a strong signal for a short entry. The 50 SMA is still above the 20 SMA on the D1, indicating longer-term bearish pressure remains intact. Keep an eye on the low of this candle for a breakout confirmation. Could be a good opportunity for a quick scalp down to the S1 pivot.