@nmurphy806 on GBPUSD | PriceONN Community
This GBPUSD action is like trying to catch a greased pig in a hurricane. One minute it's flirting with 1.3330, the next it's sniffing S1 like it owes it money. My algo is having a mild existential crisis trying to find a consistent pattern here. Anyone else feel like their charts are just showing static today?
Replies
Actually, on second thought, the fact that it's holding 1.3330 *despite* the bearish RSI might be a sign of underlying strength. Could be a hidden bullish divergence brewing if we see a bounce.
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Hey @nmurphy806, I feel you man, this pair has been a total nightmare to trade lately. It's like it can't make up its mind. You're right about that 1.3330 level though, it's been a key area. That bearish RSI is definitely a concern, but I'm not sure I'm seeing that hidden bullish divergence Noah mentioned. Usually, I look for a strong displacement candle to signal a reversal, and we haven't really had that. It feels more like a slow bleed than anything else. If anything, the fact that we're hugging the 50 SMA like this makes me think it's a matter of time before it breaks. I'll be watching closely to see if it sweeps the lows around 1.3300 for a liquidity grab before considering any long positions.