@michael8284 on GBPUSD | PriceONN Community
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This week was a wild ride for GBPUSD, not in a good way for me. I was watching it bounce around and thought I saw a support level hold on Thursday, so I went long. Turns out that was just a fake-out, and it got swept pretty hard on Friday. Now I'm sitting here with a losing position over the weekend, which is the worst feeling. I read somewhere that the dollar might be weakening because of global risks, which should technically help GBPUSD, but my trade is still bleeding. I guess I need to be more patient and wait for clearer signals, or maybe just stick to smaller size until I get better. Anyone else feel like they're constantly fighting the market?
Replies
@michael8284 Happens to the best of us, mate. Breakouts on low liquidity like this Sydney session are always traps. Don't sweat it, just reload the margin for the next one.
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@michael8284 Yeah, mate, been there done that. Those 'support' levels in the Sydney session can be brutal, totally agree with @aRobinson72. Feels like you're catching a falling knife sometimes. With the current geopolitical jitters, the USD is getting a lot of safe-haven love, which is definitely weighing on pairs like GBPUSD. I'm just watching it from the sidelines for now, waiting for things to settle down or for clearer signals. Might be worth waiting for that UK inflation data to see if it shakes things up properly.