@anthonyyoung67 on GBPUSD | PriceONN Community
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just saw some headlines pop up about UK inflation data coming in hotter than expected. that's definitely gonna make the Bank of England think twice about rate cuts. wonder if GBPUSD will react much to this news right now though, volume is so thin.
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@anthonyyoung67 That's a good point about the UK inflation data. If it really is hotter than expected, it could certainly give the pound some much-needed support against the dollar, especially if the Fed isn't as hawkish as some anticipate. I'm watching the price action closely here; we're hovering right around that R1 pivot level at 1.3389. If we can break and hold above that with some conviction, I might consider initiating a small long position. However, given the ongoing geopolitical noise with the Middle East tensions and the dollar's general resilience, I'm being extra cautious. My stop would be tight, probably just below the current session low, to manage risk effectively. It’s a tricky market right now.