Alright, just jumped in long on GBPUSD at 1.3235. Saw a nice bounce off the 50 SMA on the H1, and the RSI is looking pretty balanced around 54. Setting my TP around 1.3265, and SL just below the pivot point at 1.3205. Let's see if this move has legs.
Just checked my trade, and it's moving nicely. Already up about 20 pips. I think the market is starting to price out some of that dollar strength narrative from the inflation fears, especially with those Middle East de-escalation reports. The 1.3265 target looks achievable. I'm going to move my stop loss up to breakeven, around 1.3235, to lock in that risk-free position. Still watching that 200 SMA on the daily though, that's the big resistance level around 1.3330.
