@cyclist709 on GBPUSD | PriceONN Community
This sideways action on GBPUSD is pure boredom. Volume is so low it's like watching paint dry. Seriously, no one is buying or selling here, just the usual algo games to make it look like something's happening. This market is rigged.
Replies
Thomas, I hear you on the boredom factor. This sideways grind is a challenge for scalpers. The volume is definitely thin, and it's easy to feel like the algorithms are just ping-ponging price to keep us guessing. Technically, we're stuck between the daily pivot (1.33266) and the S1 support (1.33085). The 20-day SMA at 1.33491 is also acting as resistance on the hourly chart. I've noticed that when the market gets this quiet, often a significant move follows, but predicting the direction is the tricky part. The RBA news about energy shocks and the Fed's stance are certainly adding a layer of uncertainty that could spill over and provide the breakout catalyst we're not seeing yet. I'm holding off on new positions until we see a clear break above R1 or a decisive drop below S2.