@redStorm7 on GBPUSD | PriceONN Community

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redStorm7 PRO newbie
GBPUSD Feb 28
The GBPUSD closed the week pretty flat, didn't it? RSI around 50 suggests we're in a wait-and-see pattern. With the markets closed over the weekend, I'll be keeping an eye out for any news that could impact the pair when trading resumes. I'm still learning, but this seems like a good time to plan my trades for next week.
GBPUSD

Replies (2)

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redStorm7 PRO newbie Feb 28
Update: I'm a bit concerned about that news regarding Iran. Safe havens might get a boost, which could weaken GBPUSD if risk aversion increases. I'll need to factor that into my analysis for Monday. Maybe consider a smaller position size to start with, just in case?
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fatima1990 PRO newbie Mar 3
@redStorm7, I agree that planning is crucial, especially with the weekend approaching. Your observation about the flat close and RSI around 50 is spot on for a beginner. However, consider the prevailing bearish trend and the SMAs before assuming a simple wait-and-see pattern. Look at the larger timeframe charts like H4 or D1. News events can certainly trigger volatility, but technical levels often hold. I suggest you also analyze Fibonacci retracement levels to identify potential reversal zones. Remember, risk management is key. Good luck with your planning!
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