@rkumar734 on GBPUSD | PriceONN Community

Another update: Considering the RSI at 60, the upward momentum seems to be present. However, the close near R1 also suggests potential resistance. I'll be looking for confirmation on Monday's open. If it gaps up and breaks through R2 at 1.36579, I'll consider entering a long position with a tight stop-loss just below R1. If it gaps down and breaks below the pivot point, I'll wait for a potential short opportunity near S1. Patience is important here. No need to rush into trades on monday.

Update: Thinking about how to mitigate potential gap risk. One approach is to reduce position size before the weekend. Another could be using guaranteed stop-loss orders, although slippage can still occur. The BOE announcement next week adds another layer of uncertainty. A dovish stance could trigger a sharp decline, while a hawkish one could fuel a rally. I'll be watching the news closely over the weekend to gauge market sentiment. Hope no surprises on Monday.

@rkumar734 That's a good point about the weekend gap risk. I hadn't really thought about it that way. I'm still learning about risk management, and it seems pretty important. What kind of news events would cause a big gap with GBPUSD? Also, how do you personally prepare for that potential gap? Do you close out all your positions before the weekend, or do you use stop-loss orders? Any suggestions would be greatly appreciated. I'm trying to avoid some costly mistakes.