@WAzhar47 on GBPUSD | PriceONN Community
This past week was quite choppy for GBPUSD. The Friday close below the 50-day SMA is a concern, and I'm bracing for potential volatility at the Monday open, especially with the news out of the Middle East. My plan is to observe the initial price action, look for any clear directional bias, and perhaps wait for a retest of key levels before committing to any new positions. Risk management remains paramount.
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Actually, thinking more about it, that Middle East tension is a big wildcard. If oil prices keep climbing past $105 as reported, that could spill over and affect global sentiment, potentially weakening safe-havens like the dollar and giving GBPUSD a chance to recover. It’s not just about the UK or US economies anymore. So, while I'm cautious about the close, I'm also keeping an eye on how these geopolitical events translate into currency movements. It might create some interesting opportunities, but also more unpredictability.