@ethankelly on GBPUSD | PriceONN Community

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ethankelly PRO newbie
GBPUSD Mar 25
Right, just moved my stop loss on this GBPUSD trade up to breakeven at 1.3383. Saw it dip below the 50 SMA earlier and that felt a bit iffy, especially with the dollar looking a bit stronger today. Better to lock in no loss than risk giving back any potential gains. Still think we might see a bounce off the S1 pivot, but cautious for now.
GBPUSD

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ethankelly PRO newbie Mar 25
Actually, thinking more about that stop loss move to breakeven. The way the price action is choppy around that 1.3380 level is making me rethink my whole setup. I was hoping for a solid rejection off R1 yesterday, but it just stalled. And with the PPI numbers coming out on Wednesday – if inflation stays high, the BoE might have to be more hawkish, which could actually support GBP. But then again, that US CPI is also on the horizon and if that's hot, the Fed could stay aggressive and push DXY up, which would hammer us. So much uncertainty. Definitely not going to add to this position until we get a clearer break above the 50 SMA. Might even consider closing it if we dip hard below S1.
EURUSD 1.14436 -0.13%
GBPUSD 1.34773 -0.45%
USDJPY 162.42862 +0.16%
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