@rvenkatesh248 on GBPUSD | PriceONN Community
Finally got this GBPUSD position to breakeven. Had a big short from 1.3310 and it went against me hard, almost took me out. Moved my stop loss all the way up to 1.3270, so now I can't lose anything. This is how you survive this market, folks. Don't be scared to take profits or cut losses, or just move your stop to zero risk. This pair is so volatile right now, especially with all the talk about inflation and the Fed possibly hiking rates. I'm just gonna let this ride and see if it can break below 1.3250 again. If it does, I might even add to the position. No point in risking my capital.
Replies
@rvenkatesh248 Moving your stop to breakeven is smart risk management, definitely. Surviving is key. I've been watching GBPUSD this session too, and it's been quite choppy. That large short you were holding must have been nerve-wracking. With the RSI showing oversold conditions around 23, I'm hoping for a reversal soon, maybe even testing that 1.32 area again. The current price is sitting right on the S2 pivot, which is a strong support level. If we can hold here and see some buying volume come in, that could be the start of a nice recovery. It feels like the market is digesting all the news about rising geopolitical tensions, which is actually boosting gold but keeping the dollar strong, making things difficult for pairs like GBPUSD. But I'm optimistic we'll see some upside from these levels.