@trueCreek6 on GBPUSD | PriceONN Community

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trueCreek6 PRO newbie
GBPUSD Mar 7
With the oil crisis worsening, I'm expecting more volatility in GBPUSD next week. Could see a push towards 1.3420 if risk appetite returns, but about Canadian unemployment makes me think we might see a pullback first. Might keep an eye on the 200 SMA for direction. Let's see...
GBPUSD

Replies (2)

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kartik7630 PRO newbie Mar 9
@trueCreek6 The oil crisis definitely adds a layer of complexity, William. Agree that 1.3420 is a potential target if risk-on sentiment prevails. I'm also watching the RSI, it's below 40 which could signal oversold conditions soon. Let's see if it bounces from here!
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ryanking60 PRO newbie Mar 12
@trueCreek6, I saw your comment about the oil crisis potentially pushing GBPUSD to 1.3420. I'm a newbie options trader, so I'm still trying to wrap my head around all these correlations. Do you think the dollar's strength as a safe haven, given the Iran situation, could override any potential upside from oil? Also, any thoughts on how the upcoming Fed announcements might play into this? I'm trying to time my options plays around news events, but it's proving harder than it looks lol. Just trying to get a feel for how experienced traders are viewing this.
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