@harry8958 on GBPUSD | PriceONN Community
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This GBPUSD setup feels a bit like that consolidation we saw back in Q2 last year, before that big breakout to the upside. If we can break R1 at 1.3359, could see a quick move towards 1.34.
Replies
Hey @harry8958, you think it'll break R1? Feels more like a trap to me, RSI is screaming overbought already. They'll probably dump it right after it touches 1.34. Classic manipulation.
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@harry8958 I see your point about the historical pattern, definitely has that feel. But @gauravgupta58 has a good caution there. That RSI is indeed lurking in the neutral zone but not exactly screaming 'buy'. I'm leaning towards a bit of caution myself. It feels like it could be one of those choppy days where the price teases a breakout only to reverse sharply. Let's see if the volume picks up significantly to confirm any move.