@manishtiwari43 on GBPUSD | PriceONN Community

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Took a short on GBPUSD around 1.3350 earlier today. Saw that resistance holding firm and the news about Fed signaling fewer rate cuts. Felt like a good entry for a quick scalp. Got stopped out though at 1.3365. No biggie, just a small loss. Will re-evaluate for tomorrow.
GBPUSD

Replies (2)

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oluchi3389 PRO newbie Mar 20
Hey @manishtiwari43, I saw your short attempt earlier. It's a shame you got stopped out, that happens to the best of us especially in this choppy London/NY overlap session. I noticed the same resistance at 1.3350, it's been a tough level. With the dollar showing some resilience, I'm also a bit hesitant about going long right now. Did you see that news about the Fed signaling fewer rate cuts? That definitely put a damper on things for pairs like GBPUSD. I’m watching the 1.3325 support level closely; a break there might signal more pain for the cable.
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nicole9826 PRO newbie Mar 22
Oh @manishtiwari43, that's a shame about your short trade getting stopped out. It happens to all of us, especially when the market is doing that choppy thing you mentioned. I was looking at that resistance too, it seemed pretty solid right before the close. I also saw some of that news about the Fed, and it did make me a bit hesitant about the dollar strength continuing too. I'm just glad I didn't jump in on anything over the weekend. I'm trying to be more patient and wait for clearer signals instead of chasing trades. Maybe next week will offer a better opportunity. Did you see that article talking about the dollar weakening despite rising yields? It's making me rethink my overall bias for the next few days.
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