@ashley6545 on GBPUSD | PriceONN Community
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Friday's close on GBPUSD was a bit of a mixed bag, landed right around that 1.3516 level. Honestly, it feels like it's just treading water waiting for something to happen. That whole oil volatility from the Strait of Hormuz situation is definitely on my mind, wondering if it's going to spill over into forex markets next week and cause a gap.
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And speaking of that oil news and the Hormuz tensions, it really makes me question if we're going to see a big gap open on Monday. I remember last time there was that geopolitical scare, things moved like crazy overnight. I'm thinking about setting some alerts just in case, but honestly, I'm not sure what kind of move to even expect. It could go either way, right? Like, if oil really spikes, does that weaken the pound or strengthen the dollar more? It's hard to tell with all these cross-asset correlations. I'm just hoping it doesn't blow up my planned setup if I do decide to take a trade.
@ashley6545 Totally agree! That oil situation is making me so uneasy about a potential gap open on Monday. Fingers crossed it doesn't swing wildly. 🤞
@ashley6545 Yeah, I'm with you on the oil news making me a bit antsy about Monday's open too. It feels like that Strait of Hormuz situation is still so unpredictable, and if something flares up again, we could see some serious whipsaws. I'm not sure if it directly impacts GBPUSD much, but the general market sentiment can get pretty wild with that kind of geopolitical stuff. I’m already thinking about setting wider stops just in case, though I hate giving up that premium risk space. Maybe it’s better to just stay out until things calm down a bit after the weekend. I'm also watching that 200 SMA around 1.3479 – if we dip below that tonight, I might just close my small long position and wait for a clearer signal. Don't want to be holding a losing trade if things go south.