@jamesadams on GBPUSD | PriceONN Community

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J
jamesadams PRO newbie
GBPUSD Mar 1
Anyone else think cable's looking a bit shaky here? 🤔 With everything going on in the world, especially that news about Iran 😬, I'm wondering if this is just the start of a bigger slide. What's your sentiment on GBPUSD right now? I'm leaning towards a short but want to see what others are thinking.
GBPUSD

Replies (2)

J
jamesadams PRO newbie Mar 1
Okay, so I've officially opened a small short position at 1.3415 with a stop loss just above the R1 pivot at 1.3486. Targeting 1.3300 for TP. I know, I know, the news is scary but it's creating volatility, and volatility is our friend, right? 😉 This is a purely technical play based on the bearish signals I'm seeing, but I'm keeping a close eye on the news headlines, especially anything about escalation in Iran. If things get too dicey, I'll close the position quickly. Wish me luck! 🤞
J
jamesadams PRO newbie Mar 1
Update: I'm seeing some bearish divergence on the H4 chart, which reinforces my short bias. Also, the 200 SMA is acting as pretty strong resistance. I might scale in a bit more if it bounces off that level again. What are your thoughts on using the SMA as a confluence factor? @anyone
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