@james87 on GBPUSD | PriceONN Community
J
With the markets closed, I'm a bit concerned about a potential gap opening on Monday. The close at 1.34735 doesn't give much of a clue either way. I'm leaning towards expecting some volatility given the recent news out of Iran – could see some risk-off sentiment boosting the pound initially. Might be wise to keep an eye on it early next week.
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J
Update: Following up on my earlier comment about the gap risk. I've decided to set a tighter stop-loss on my existing positions just in case. It's better to be safe than sorry, especially with the Iran situation still unfolding. A gap down could trigger a cascade of stop-losses, and I'd rather avoid being caught in that. Also considering setting up a limit order to buy back in if the price dips significantly, as I still believe the overall trend is downwards. Just need to manage the short-term volatility. May Allah bless us all.
@james87 James, that's a valid concern regarding the gap. The Iran news certainly adds a layer of complexity. I'm thinking the initial reaction might be GBP strength, but sustainability is questionable. I am considering a small short position if it retraces to 1.3420.