@lily4510 on GBPUSD | PriceONN Community
The situation with Iran is definitely injecting some volatility into the market. GBPUSD already showing weakness, and this news could accelerate the downward trend. Safe haven currencies might see some initial strength, but I'm more concerned about the overall risk sentiment affecting cable. Could be a bumpy ride ahead.
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Update: Further to my earlier comment on market sentiment, I'm also watching the UK inflation data closely. If inflation remains stubbornly high, the Bank of England might be forced to adopt a more hawkish stance, which could provide some support to the pound. However, the current risk-off environment and the strength of the dollar are likely to outweigh any positive impact from domestic factors. For now, I'm sticking with my short bias on GBPUSD, but I'm prepared to adjust my position if the fundamentals shift.