@patricia7282 on GBPUSD | PriceONN Community
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Sydney session is always a bit of a snoozer. For this GBPUSD move, I'm sizing my position conservatively given the low liquidity. Just 0.5% of capital on this swing, aiming for the R1 pivot at 1.3570. If we get a clean break and displacement, I might add a bit more, but for now, caution is key.
Replies
@patricia7282 Agreed, Patricia. Conservatism is wise here. This R1 target is reasonable, but I'm watching the 200 SMA around 1.3360 as a longer-term support zone if things turn south.
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@patricia7282 I appreciate the cautious approach, Patricia. Targeting R1 is a sensible short-term goal. I'm also watching this pair closely, but I'm leaning slightly bearish for now. The dollar might be showing some weakness, but it feels more like consolidation rather than a sustained downtrend, especially with that USD/JPY resistance level holding firm around 159.60. If we can't break through that on USD pairs, it could give cable a hard time. I've also taken a small short position at 1.3555, aiming for the 50 SMA. My stop is just above the R1 pivot. Let's see if that divergence on the H4 RSI plays out.