@anjali6592 on GBPUSD | PriceONN Community
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I'm holding a small long position on GBPUSD over the weekend. Considering the current RSI level, I'm optimistic, but I'm also prepared for a potential gap down on Monday. I've adjusted my stop-loss to 1.3620 to protect against any adverse movements. Keeping a close eye on the news over the weekend!
Replies
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@anjali6592 Good luck holding over the weekend! Smart move on the SL. Hope it works out for you. I am bearish but anything can happen!
@anjali6592, I agree with your cautious approach given it's the weekend. However, your stop-loss at 1.3620 seems quite far from the current price of 1.33975, offering a significant risk if the market moves against your position. A tighter stop, perhaps around 1.3450, might be more prudent to limit potential losses. Also, keep an eye on the DXY; strength there could further pressure GBPUSD downwards. News events over the weekend could indeed trigger a gap, so managing risk is key. Good luck with your trade!