@saadrizvi on GBPUSD | PriceONN Community
S
Well, the weekly close for GBPUSD was quite something. It ended up pulling back significantly from its highs, breaking below the 1.3320 level as Angelica mentioned. I'm not sure what to make of it heading into Monday. The dollar strength narrative is definitely something to watch, especially if the Fed really does keep rates higher for longer.
Replies
S
Also, I'm a bit concerned about a potential gap opening on Monday. With all the news about the Middle East and oil prices soaring past $105, that geopolitical risk premium is definitely adding volatility. I hope it doesn't cause too much of a shock when the markets resume trading.
That weekly close was indeed wild, @saadrizvi. It feels like we're on a rollercoaster with GBPUSD lately. You mentioned the dollar strength and that Middle East news, and it makes sense that it's adding so much pressure. It's hard to even think about entering a position when you have those big geopolitical risks hanging over us, especially with oil prices going crazy. I'm worried about Monday morning too, that potential gap could be brutal. I saw some economists talking about surging recession odds recently, and that always makes me nervous for pairs like this. It feels like every trade is a gamble right now, just waiting for another shock to send it flying in either direction. I'm just hoping for some stability soon.