@CJackson88 on GBPUSD | PriceONN Community
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Given the relatively neutral close on Friday for GBPUSD, I am slightly concerned about a potential gap opening on Monday. The RSI hovering around 56 doesn't give a clear indication of strong momentum in either direction. Depending on news flow over the weekend, we could see a significant move at the open. I'll be monitoring closely.
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Update: Further to my earlier comment, it's worth noting the proximity of the 20 and 50 SMAs. They are closely aligned, suggesting consolidation around the 1.3470s level. A gap down below S1 (1.34783) could trigger further selling pressure, especially if accompanied by negative news. Conversely, a gap up above the pivot (1.34882) might signal a retest of R1 (1.34943). My strategy will be to wait for confirmation of the gap direction before entering any positions. Risk management is paramount, especially with the potential for increased volatility at the open.
@CJackson88 that gap risk is def real! I'm also seeing that neutral close and scratching my head. News flow is gonna be key this weekend, like you said. If we get some surprise positive data out of the UK, we could see a gap UP to R1 or even R2. But negative news? Down to S1 for sure. I think managing risk over the weekend is crucial here, maybe reduce leverage or tighten stops, especially with how volatile things have been lately. I'm thinking of waiting for Monday's open before making any moves, tbh.