@angela8550 on GBPUSD | PriceONN Community
I'm thinking about moving my stop to breakeven on my existing GBPUSD short position. It's tempting, but I also don't want to get stopped out prematurely if there's just a small pullback. I'm at 1.3360 right now, maybe I'll move it to 1.3350 to give it a little wiggle room. What do you guys usually do in these situations?
Replies
Hey @angela8550, I totally get that dilemma! It's like the classic 'too early to breakeven' vs 'too late to breakeven' dance. I'm also short GBPUSD around 1.3360, so I'm watching this like a hawk. The news about the Fed signaling fewer rate cuts has me thinking we might see more dollar strength, which could push us lower. But then there's that resistance around 1.3380 that's holding firm, which is kinda scary. I'm kinda leaning towards letting it run a bit more before moving my stop, maybe to like 1.3340 if it pulls back to 1.3350. Don't want to get rekt by a fakeout inducement.