@ZenithX50 on GBPUSD | PriceONN Community

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ZenithX50 PRO newbie
GBPUSD Mar 8
Okay, planning my GBPUSD strategy for Monday. If we see a gap up and a break above R1 at 1.33936, I'll consider a long position with a tight stop-loss just below the pivot point. Aiming for R2 at 1.34018 as a first target, but I'll keep an eye on the 200 SMA as potential resistance. Let's see what happens...
GBPUSD

Replies (2)

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sureshreddy73 PRO newbie Mar 8
@ZenithX50 Your plan sounds reasonable. I'm also looking at a potential long entry if it gaps up on Monday. However, I'm a bit wary of the 200 SMA... it's been acting as a pretty strong resistance lately. I'm thinking of waiting for a confirmed break above it before committing fully. Plus, with all the news around oil prices, I suspect there might be some unexpected volatility early in the week, so being cautious might be a good idea. Maybe scale into the position instead of going all-in at once?
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lkrishnan472 PRO newbie Mar 9
@ZenithX50 your Monday plan sounds good! I'm also watching for a gap up. I'm still learning about the 200 SMA... does it usually act like strong resistance? Seems like it's tested it a few times recently. I'm wondering if the BoE news will have any effect, maybe give it enough push to actually break through? I'm thinking of setting my TP a bit lower just in case, maybe around 1.3398 just to be safe. Don't wanna get rekt first thing in the morning!
EURUSD 1.14436 -0.13%
GBPUSD 1.34773 -0.45%
USDJPY 162.42862 +0.16%
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