@david5120 on GBPUSD | PriceONN Community

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david5120 PRO newbie
GBPUSD Mar 12
The safe haven demand for the dollar amid escalating Middle East tensions is definitely putting pressure on GBPUSD. I'm going to be watching for a break below the 1.3334 level (S1 pivot) as that could signal a continuation of the downtrend. It's crucial to assess the impact of geopolitical events on market sentiment.
GBPUSD

Replies (1)

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anthony873 PRO newbie Mar 13
@david5120 I think you're spot on about the safe haven demand driving GBPUSD down. The dollar's been unstoppable, especially with the geopolitical stuff. I was watching that 1.3234 level myself. If it breaks and holds below that, I think we're gonna see a test of the next support around 1.32. RSI is oversold though, so might see a slight bounce before the next leg down. I closed my short position at 1.3230, locking in some profit. Risk reward wasn't worth it anymore with RSI so low. I'll keep an eye out for a possible re-entry later if it retraces a bit.
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