Why everyone shorting GBP/USD at 1.3290 is about to get wrecked

Nathan Cole

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Sep 30, 2026
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Alright guys, I’ve been reading all these doom-and-gloom technical analyses about Cable hitting a brick wall at 1.3290, and honestly, I think most retail traders are walking straight into a massive bear trap. Everyone is obsessing over this bearish trend line on the 4-hour chart like it's some holy grail of resistance. Ngl, drawing a line on a chart and assuming the rally is dead is peak retail fomo. The dip to 1.3200 wasn't a sign of weakness; it was a textbook liquidity sweep to shake out the weak hands before the real move starts.
The bulls didn't just "emerge" off 1.3200, mate, they defended that level with serious volume. Every amateur chartist is stacking short orders right under 1.3290 thinking they’ve found the ultimate scalp. But the US Dollar is looking incredibly exhausted across the board, and this "crucial test" feels like a manufactured narrative to get people on the wrong side of the trade. If we break 1.3290—and I highly suspect we will—the short squeeze is going to be violent.
While the mainstream analysts are sweating over WTI crude consolidating and gold dipping below $4,200, they're completely missing the intraday momentum. I’m already positioned long and holding tight because the R/R here is heavily skewed to the upside. Don't let the mainstream hype scare you into shorting a market that clearly wants to go higher.
Are you guys actually risking your capital selling this resistance, or are you positioning for the breakout?
 

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