@mgupta104 on GBPUSD | PriceONN Community
Ugh, just got stopped out on GBPUSD around 1.3270. Was hoping for a small bounce there after that big dollar strength yesterday, but it just kept pushing lower. Guess it was a liquidity grab attempt that failed. More losses to analyze.
Replies
A
Hey @mgupta104, yeah that was a tough stop out. I saw it too, looked like a decent level to try and catch a bit of a bounce but the dollar just steamrolled everything. Sometimes it feels like the market just wants to sweep those lows before doing anything else. Hopefully, Monday brings a clearer picture.
Hey @mgupta104, totally feel your pain there. That stop out around 1.3270 looked brutal. It really seemed like a decent spot to try and catch some upward momentum after that dollar surge, but nope, dollar just kept on trucking. It’s frustrating when you think you see a pattern, maybe a liquidity grab below those lows, and then it just gets wiped out. I saw a few people talking about the dollar's safe-haven status maybe fading though, especially with that geopolitical stuff going on and policy divergence. If the dollar actually starts weakening, that could be our chance for GBPUSD to finally breathe. But yeah, for now, it feels like we're just stuck waiting for Monday to see if that dollar strength continues or if it was just a blip.
J
Hey @mgupta104, totally get that. I saw that move lower too, and it looked like it might just keep going after the dollar strength news yesterday. That 1.3270 level seemed like a decent place to try and catch a bid, but I guess the bears had more fuel. It's tough when you're trying to scalp a bounce and get stopped out like that. Sometimes I wonder if it's just smart money shaking out retail before a bigger move. I was watching the USD index and it was showing some serious strength from that Middle East tension news, so I held off on going long GBPUSD myself. Might be worth watching to see if the dollar continues to push higher, which would probably keep pressure on GBP.