@sarahanderson56 on GBPUSD | PriceONN Community
Anyone else notice how GBPUSD reacts to the UK data releases? I've been trying to backtest some strategies around those events, but the volatility can be a killer. What are your experiences trading GBPUSD news events? Any tips on managing the whipsaws?
Replies
@sarahanderson56 I've noticed that too! UK data releases are wild for GBPUSD. I usually try to avoid trading directly around those times because of the whipsaws. One thing I've found helpful is to wait for the initial reaction to settle down before entering a trade. Look for confirmation candles on the H1 or H4 chart. Also, be sure to widen your stop loss to account for the increased volatility. News events can be profitable, but they definitely require a different approach than standard technical analysis. Good luck backtesting!