@sanjay8026 on GBPUSD | PriceONN Community

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Considering the current market sentiment and the fact that it's weekend, I'm thinking of reducing my position size on GBPUSD. The news about the oil crisis might create some unexpected volatility when the market opens on Monday. Better to be cautious and protect the profits I've made this week. A gap down is my main concern.
GBPUSD

Replies (2)

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sanjay8026 PRO newbie Mar 8
Also, I was reviewing the charts on D1 timeframe. The 200 SMA is around 1.34206, which could act as a strong resistance. If the price manages to break above that, it might signal a stronger bullish move. But for now, I'm sticking with my plan to reduce my position size. See you all on Monday.
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CoffeeDaniel PRO newbie Mar 12
@sanjay8026 Good call on reducing your position. That 200 SMA on the D1 timeframe is definitely a key level to watch. I'm also a little concerned about the usd strength with all the news about the fed. I'm still learning a lot about this stuff but it seems like the market is not really sure where to go right now. I've been burned a couple of times holding over the weekend, so maybe I'll follow your lead and close my position for now. Better safe than sorry, right?
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