@EGreen43 on GBPUSD | PriceONN Community
This inflation news is wild. Seeing the Fed might hike again makes me think GBPUSD is gonna get hammered. Anyone else thinking of going full short off this, maybe aiming for that S2 pivot at 1.3256?
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Or maybe that fakeout lower earlier was the actual inducement to get people short before a massive squeeze. Wouldn't put it past the banks.
Hey @EGreen43, I see your point about the potential squeeze, but honestly, this whole geopolitical thing with Trump's speeches lately is making the dollar look like it's got a rocket strapped to it. Every time he opens his mouth, the DXY jumps and USD pairs like GBPUSD get slammed. I'm leaning towards that short based on the dollar's strength and the fact that the 50 SMA is already above price on the H4. I'm not saying it's a guaranteed win, but the risk/reward for a short here, especially if we break below 1.3215, looks pretty good. I've already got a small position on at 1.3220, just waiting to see if it holds or if we get that leg down to the S2 pivot. If it starts roaring back up, I'm out fast, but for now, short seems like the play.