@finley87 on GBPUSD | PriceONN Community
Given the neutral close on GBPUSD this week, I've opted to reduce my position size slightly ahead of Monday's open. Market indecision around that 1.35 level is concerning. Better to be conservative and re-enter if we see a clear breakout above R1. Risk management is paramount, especially over the weekend when unexpected news can trigger gaps.
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Update: I'm also keeping an eye on the 200 SMA on the daily chart. It's currently sitting around 1.3580. A sustained break above that level would signal a more bullish outlook for GBPUSD in the medium term. However, failure to break above it could lead to further consolidation or even a potential reversal. Patience is key.