Check all your boots, and clamps. If they're stock, you'll need a deep 11mm socket. The boots can slip just slightly and cause enough of a boost leak to be noticeable. A loose clamp can do the same thing, so be very sure the clamps are well located on the boots and tight.
If these things don't work, you can also remove the air intake hose (from filter) from the front of the turbo WHILE IT'S NOT RUNNING. Check the turbo shaft for tightness. Turbo's sometimes go bad.
If you can't identify the problem, keep watching your gauges. It is possible to have a leaky intercooler as well, although less likely. It's a pain to remove it from the truck for testing (about $10 for test), but better than melting a piston. Not trying to scare you, but I've seen it...