@manishjain64 on GBPUSD | PriceONN Community
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And that news about Europe potentially heading into stagflation... that's a huge risk off signal. Dollar strength is gonna be insane. I don't see how GBP can hold above 1.34 with that kind of global sentiment, even with the Fed potentially cutting late. The setup is too perfect for a massive short. I'll be looking to get in around 1.3415 or so, SL tight above the high. This is the kind of play that sets you up for months.
Replies
@manishjain64 I get what you're saying about the dollar strength with all the global stuff. It makes sense. But I'm still a bit hesitant to short GBPUSD so hard. I dunno, it feels like it's been hanging around this 1.33 level for a while. Maybe it'll hold? Still figuring out my game plan for next week.
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@manishjain64 I agree that the dollar sentiment is concerning with all that geopolitical tension and potential European issues. It does make a strong dollar case. However, I'm hesitant to go all-in short on GBPUSD. That 1.33 support level seems pretty sticky historically, and a news-driven move can reverse just as fast. I'm watching for any signs of a reversal pattern before committing.