@christian7471 on GBPUSD | PriceONN Community
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This GBPUSD rise feels a bit too fast, almost like a bull trap is being set up. I'm seeing a lot of buying pressure but it's hitting resistance levels quickly. Might want to be careful not to get caught on the wrong side if it reverses suddenly.
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Hey @christian7471, I get what you mean about it feeling too fast. I saw some news about the ECB possibly holding rates, which usually makes the dollar a bit shaky, but then other news says the S&P is going crazy. It's all confusing and makes me nervous about holding this GBPUSD position.
Yeah @christian7471, I totally agree about the potential bull trap. It felt like it was trying to push higher on Friday but just ran out of steam near those resistance levels. With all the uncertainty from that oil news, I wouldn't be surprised if we see a pullback early next week. Need to see if that 1.35 support holds, otherwise it could get ugly fast.