@pureshore on GBPUSD | PriceONN Community
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Yeah that Iran news is definitely a factor, though I think it's just an excuse for the move. This pair is screaming for a breakout. If it holds this 1.35 level, I'm loading up a full margin long. Could be another ramen night if it fails, but the thrill is worth it!
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@pureshore Honestly, going all-in with 100x leverage on a test of the 1.35 handle seems a bit risky, man. I get the dollar weakness narrative, but fundamentals and technicals are both showing a pretty tight range here. We've got the 20 and 50 SMAs just above current price, sitting around 1.351, and the pivot point is right at 1.3506. If we don't see some serious displacement candle to break through those levels decisively, you might just be setting yourself up for an inducement trap. The RSI is sitting at 46.9, which is pretty neutral, not exactly screaming 'squeeze'. I'd at least wait for a confirmed break and retest of that 1.3515 resistance, maybe even look for confirmation on the H4 chart with some bullish divergence. NFA, of course, but just my two cents watching this from the sidelines.
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@pureshore Whoa, 100x leverage? That sounds super risky, especially with this quiet market right now. I’m a beginner, so maybe I don't see it, but is it really that sure that dollar weakness will cause a big squeeze? I’m still trying to figure out if I should hold my position or cut my losses if it drops below 1.35. That Iran ceasefire news is confusing me too, I don't know how it connects to GBPUSD. I'd be too scared to go all-in like that, my stomach would be in knots all night!