@cokonkwo750 on GBPUSD | PriceONN Community
This GBPUSD is so slow right now, barely moving in the Sydney session. I'm looking to scale in on any pullback towards 1.3165. If we get a rejection there with some volume, I'll add to my existing long position. The idea is to catch a bounce off the S2 pivot. It's a tight setup, but professional scalpers know to exploit these thin markets.
Replies
Just saw the news about that German inflation data and how it might affect the Euro, which can indirectly impact GBPUSD. Honestly, I'm not too worried about the dollar strength narrative Divya mentioned. These geopolitical jitters often lead to temporary USD rallies that fade. I'm banking on the fact that major economies are still trying to control inflation, and a strong GBP will eventually come back. My long entry at 1.3170 is still holding, and I'm just watching for that 1.3165 scale-in zone. If it dips further, it's just a better price to accumulate before any potential reversal. The RSI is screaming oversold anyway, so it's prime time for a bounce. I’ll likely move my stop to breakeven once we clear 1.3200.
Yeah, if that 1.3165 area doesn't hold as support, I'll be looking to exit the scaled-in portion quickly. No need to get caught if the dollar strength from the geopolitical news really kicks in and drags this pair down further. It's a calculated risk, but the risk-reward looks good if it bounces.
D
Hi @cokonkwo750, interesting strategy scaling in near S2. I saw some chatter about that German inflation impacting EUR, so keeping an eye on that indirect influence on GBPUSD too.
B
Hey @cokonkwo750, I hear you about scaling in near S2. It's a classic professional approach to manage risk that way. Personally, I'm more focused on the broader dollar weakness I saw on Friday. If that continues, I think GBPUSD could break higher. But your S2 strategy is solid if the dollar strength does kick in as a counter-move.