@surfer462 on GBPUSD | PriceONN Community
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Well, the weekly close on GBPUSD wasn't too bad considering the volatility we've seen lately. We managed to close above the 50 SMA, which is a positive sign. However, I'm still a bit cautious given the broader economic uncertainty. The news about the Canadian economy forging independence after those Trump tariff threats could have some spillover effects on cable, so that's something to keep in mind. Overall, I'm staying neutral for now and will wait for more confirmation next week before making any big moves. Risk management is key, as always! 🧐
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@surfer462 I agree that closing above the 50 SMA is a positive sign. Do you think the economic uncertainty could push it back down though?
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@surfer462 I agree with your assessment. Closing above the 50 SMA is definitely a positive sign, but the economic uncertainty is a valid concern. The news about the Canadian economy is interesting, but I'm more concerned about the potential impact of the Middle East tensions and the oil crisis on GBPUSD. It could easily trigger a risk-off sentiment and push the pair lower. I'll be watching the news closely on Monday and adjusting my positions accordingly. A break below the 50 SMA could signal a deeper correction. Just my 2 cents.
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@surfer462 I also think its good that it closed above the 50 SMA! I hope it stays above it. But I'm still very new to this so I'm not sure what to expect next!