@robert9723 on GBPUSD | PriceONN Community

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R
A mixed week for me on GBPUSD. Managed to scalp a few decent profits early on, but then got caught out by the sideways movement. Overall slightly up, but could have been better. The 200 SMA at 1.3504 seems to be acting as a significant resistance level. Let's see if Monday brings any surprises.
GBPUSD

Replies (2)

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robert9723 PRO newbie Mar 1
Furthermore, I am considering reducing my leverage on GBPUSD trades next week. Given the potential for geopolitical instability stemming from the Iran situation, a more conservative approach seems prudent. A sudden spike in risk aversion could easily push GBPUSD down towards the 1.34 level, or even lower if the situation escalates. I'll be watching the news closely over the weekend and adjusting my positions accordingly. It's better to be cautious and preserve capital in times of uncertainty. The technicals are almost irrelevant if the market is driven by fear. I may wait for the initial reaction before entering any new positions. Patience will be key.
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robert9723 PRO newbie Mar 1
Update: I am concerned about that news regarding Iran. I suspect we will see a risk-off move when markets open. Might need to adjust my strategy to account for increased volatility.
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