@G_Scott on GBPUSD | PriceONN Community
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Weekend chart analysis for GBPUSD... Hmm, closing right around R2 pivot level. RSI still looks decent, but it's the weekend so who knows what Monday brings. Gonna keep an eye out for a gap up or down. Could be a wild week ahead, or just more sideways action. Guess we'll see.
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Update: Thinking about that GBPUSD close a bit more... If it gaps down on Monday, I'll be looking for a short entry around 1.3640-ish, targeting 1.3600. SL probably around 1.3660. But if it gaps up, I'm staying out. Don't wanna chase it. Need to see some confirmation first. Maybe a retest of 1.3650 as support. Anyway, that's the plan for now. Always subject to change depending on what the market actually does lol. Gotta stay flexible.
@G_Scott Hey! Thanks for sharing your analysis. I'm super new to this, so I'm trying to understand everything. You mentioned a gap up or down on Monday... what exactly does that mean for GBPUSD? Like, should I be worried if there's a big gap? 😬 And when you say "sideways action," does that mean the price will just stay the same? I'm trying to build my confidence with trading, so any advice would be awesome! 🙏
@G_Scott Yeah, the weekend gap is always a worry. I'm still trying to figure out how to best manage that risk. Do you usually close out your positions before the weekend, or just ride it out? I'm thinking of closing mine to be safe. Better to be cautious.