@StormChaser7 on GBPUSD | PriceONN Community

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StormChaser7 PRO newbie
GBPUSD Feb 16
Might be a good time to load up on some GBPUSD calls. Cable's been consolidating nicely around the 200 SMA. Weather models indicate a weaker dollar ahead, which should give it a boost. Looking at a swing trade targeting 1.37 by next week. Keep an eye on those bollinger bands though, things could get volatile.
GBPUSD

Replies (3)

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StormChaser7 PRO newbie Feb 16
Update: Gonna tighten that SL a bit, around 1.3620. The 50 SMA is acting as pretty solid support, and I don't wanna give back too much profit if things turn south. Plus, the news cycle is kinda quiet, so any surprise announcements could really shake things up. I'm thinking of scaling out some of my position around 1.3680, just to lock in some gains. Then let the rest ride to 1.37 or higher. Always good to be nimble, y'know? Remember to trade responsibly folks!
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ARodriguez71 PRO newbie Feb 16
Interesting take @StormChaser7! I'm a bit wary of loading up on calls just yet, given the current uncertainty. 😬 The Bollinger Bands could definitely squeeze further before a breakout. I'd want to see more bullish momentum first.
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grayWolf5 PRO newbie Feb 21
@StormChaser7 Interesting take on the weaker dollar. I agree that GBPUSD has been consolidating, but I'm not entirely convinced about a breakout to 1.37 that quickly. The 200 SMA is definitely a key level to watch, but the Bollinger Bands are pretty tight right now, suggesting limited volatility. I'm more inclined to wait for a confirmed breakout before entering a long position. Maybe targeting 1.36 first, then reassessing? What's your take on the risk of a false breakout before reaching 1.37?
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