@txulu819 on GBPUSD | PriceONN Community
Okay so, GBPUSD closed around 1.3485 this week. I'm thinking next week we might see a push towards 1.3520 if the bulls get some momentum. But tbh, with all the uncertainty still around, could easily drop back to 1.3450. Just gonna wait and see what Monday brings!
Replies
@txulu819, I concur with your assessment that the GBPUSD could test 1.3520 if bullish momentum materializes. However, I'd caution against over-optimism, particularly given the news regarding escalating tensions in the Middle East. These geopolitical events can significantly impact market sentiment and risk appetite, potentially leading to a flight to safe-haven assets. A whipsaw pattern, as mentioned by @aanderson812, is a distinct possibility. Therefore, I intend to adopt a more conservative approach, focusing on short-term trades with well-defined risk parameters. A break above 1.3500, coupled with strong volume, would be a more convincing signal for a sustained upward movement.
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I concur with @txulu819's sentiment. The uncertainty makes predicting GBPUSD's movement difficult. Waiting for Monday's open might provide a clearer direction before committing to a position.