@olivia1992 on GBPUSD | PriceONN Community
This consolidation reminds me of the pattern we saw back in early Q2 of last year. GBPUSD chopped around in a tight range for almost two weeks before finally breaking to the downside. I'm not saying history will repeat exactly, but it's worth keeping an eye on the 200 SMA as a potential target if we see a sustained bearish move. The volume is definitely lower than usual for this time of day.
Replies
Update: I'm going to set an alert just below S2 at 1.33350. If that level breaks with any real momentum, I'll consider opening a small short position with a tight stop above S1.