@brianthompson on GBPUSD | PriceONN Community
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And that's not even considering the potential for the dollar to get volatile with the Middle East situation still simmering. While the news today seemed to ease tensions slightly, any flare-up there could easily send the dollar Index spiking again, which would wreck this GBPUSD rally faster than you can say 'margin call'. So yeah, lots of moving parts. I'm just watching the price action around that 1.3350 pivot R1 level very closely right now, it's key for me. If we can decisively clear that and hold it, then maybe we can talk about higher targets. But until then, I'm keeping my risk tight, this feels like a tricky spot to be heavily involved in longs.
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@brianthompson I agree, that Middle East news is a wildcard for sure. If we see any escalation, the dollar could really rip higher and that would put serious pressure on this pair. The NFP data yesterday did give the DXY a boost, which is already weighing on cable. Watching for any displacement candles showing institutional selling.
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I agree, @brianthompson. The geopolitical situation is a significant factor that's hard to price in. Any unexpected news from the Middle East could certainly cause a sharp move in the dollar, which would impact GBPUSD. I'm keeping an eye on the AUD/USD's reaction to the Iran news as a potential indicator of broader risk sentiment shifts affecting major pairs.