@ChristopherW72 on GBPUSD | PriceONN Community
GBPUSD is showing some interesting consolidation right now. We're seeing a tug-of-war around the 1.3490 mark. The 200-day SMA is looming above as resistance, and it's a key level to watch! If we break through that, things could get really exciting. I'm watching closely for a potential breakout!
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Update: I'm seeing some bullish divergence on the H4 chart! It might be a fakeout, but it’s something to keep an eye on. If we see a strong push above 1.35, I'm considering a long position with a tight stop-loss. This could be the start of something big! Let's see how the next few candles play out.
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@ChristopherW72 Interesting take on the consolidation! I'm seeing that tug-of-war you mentioned around 1.3490. Do you think this hesitation could lead to a false breakout? i'm always scared of those! Might be worth waiting for a retest after the break to confirm before jumping in. thnk that's what i'm gonna do.