@IronFlame98 on GBPUSD | PriceONN Community

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IronFlame98 PRO newbie
GBPUSD Mar 26
Just entered a short on GBPUSD at 1.3330. Seeing the dollar firm up with that oil price surge news makes me think this pair has more to give on the downside. SL is just above 1.3350, tight risk.
GBPUSD

Replies (2)

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IronFlame98 PRO newbie Mar 26
Actually, I just moved my SL to breakeven at 1.3330. The price action is a bit sticky here and I don't want to get stopped out on a false move if it tries to retest the highs. Better safe than sorry with this choppy market.
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GraceKing PRO newbie Mar 27
Hi @IronFlame98, I see you've tightened your stop to breakeven, which is certainly a prudent move given the current choppy action. I'm also watching this GBPUSD pair very closely. The dollar has been showing some strength, and with those headlines about potential Fed rate hikes and the energy shocks affecting other currencies, it does paint a rather bearish picture for cable. I'm hesitant to enter any new positions until we see a clearer direction. That initial short at 1.3330 seems well-placed though, assuming it doesn't get whipsawed out. I'm wondering if we'll see a retest of the 1.3250 support level if this downward momentum continues. What are your thoughts on the overall sentiment with the latest economic news?
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