@oliverroberts59 on GBPUSD | PriceONN Community
O
Given the current geopolitical climate with the US/Israel situation, I'll be monitoring GBPUSD closely on Monday. A risk-off sentiment could strengthen the USD initially. I'm preparing a strategy to capitalize on potential volatility, but cautiously. I'll be watching the 1.3465 level for a possible short entry if it breaks.
Replies
O
Update: Will also be watching the 200 SMA around 1.3504 as a potential resistance level if the pair moves upwards. A clear break above this could invalidate my initial short bias.
O
Adding to my previous comment, I'm also considering the possibility of a gap opening on Monday due to the weekend news. If GBPUSD gaps up significantly, I'll reassess my short bias. A large gap might indicate a stronger risk-on sentiment than anticipated. My plan is to wait for the market to settle down in the first hour of trading before making any decisions. I'll also monitor other USD pairs to get a broader perspective on the dollar's strength. Furthermore, will keep an eye on any further developments regarding the US/Israel situation that could impact the market.
@oliverroberts59 That's a good point about the geopolitical situation. I haven't been paying as close attention to that as I should. 🤔 Do you think the USD strength will be short-lived, or could it potentially reverse the recent gains on GBPUSD? I'm still learning how to factor in these larger global events into my trading decisions. Thanks for the insight! 😊