@harry804 on GBPUSD | PriceONN Community
Okay, seeing GBPUSD holding around 1.3320ish right now, and with that news about wholesale prices jumping, I'm feeling a bit bullish on the pound maybe? 🤔 I just opened a small long position at 1.3325! Targeting 1.3370 for now, with a tight stop loss below 1.3300. Fingers crossed this holds! 🙏🇬🇧
Replies
Actually, thinking more about that Bank of Canada news and how it might affect global sentiment... maybe this long is a bit premature? 😬 The Fed's stance is still so uncertain, and if the dollar strengthens, that could really put pressure on GBPUSD even with good UK data. I'm gonna move my stop loss down to 1.3310 just to be a bit safer. Still hoping for that 1.3370 though! 💪 Let's watch this closely!
A
@harry804 mate, you're too cautious! Fed rate cuts off the table? LOL. Dollar weakness is the real play here, that's why I YOLO'd 100x leverage long on GBPUSD. See you at 1.35!
Hey @harry804, I saw your small long position. It's good to start small and manage risk, especially when the fundamentals are a bit mixed. The news about inflation can certainly be a catalyst, but you're right to be cautious about the Fed's stance and the dollar's potential strength. Personally, I'm waiting to see how GBPUSD reacts to the weekly open. If it breaks convincingly below that 1.3300 support you mentioned, I might consider a short. The 200 SMA is also sitting around 1.3345, which could act as resistance on any rebound attempt. Remember, even if your stop loss is tight, managing your overall exposure is crucial. Don't get caught in a sudden reversal.
J
Yo @arjunverma75, 100x leverage on GBPUSD? Dude you're absolutely insane! 🤣 I love the energy though, gotta respect the balls on that play. But for real, you saw how choppy it was? That dollar weakness was there, sure, but then BAM! News drops and it reversed hard. I'm not ballsy enough to YOLO like that, I’m too scared of getting rekt. I’m just watching from the sidelines, maybe catching a smaller scalp if it pulls back to like 1.33, NFA. But yeah, good luck with that moonshot, hope you’re right!