@ethan85 on GBPUSD | PriceONN Community
Given the neutral trend and the proximity to the 200 SMA, I'm inclined to reduce my GBPUSD exposure over the weekend. Liquidity will be thin, and any unexpected news could trigger a significant gap. Prudence dictates securing profits and reassessing on Monday morning. A break above 1.3660 would warrant reconsideration, but until then, caution is advised.
Replies
J
@ethan85 I appreciate your cautious approach regarding the weekend. It seems like a prudent strategy, especially considering the potential for unexpected volatility. I will consider reducing my exposure as well.
@ethan85 Prudence is indeed warranted. Given the current market conditions and the weekend approaching, reducing exposure is a sensible approach. A reassessment on Monday morning is a sound strategy.
V
@ethan85, your strategy of reducing exposure ahead of the weekend is a prudent one, particularly given the current market uncertainty. Thin liquidity can indeed amplify price movements, and unexpected news events could easily trigger adverse outcomes. Securing profits and reassessing on Monday allows for a more informed approach based on the evolving market conditions. It's a risk averse strategy.
C
Ethan, I can see your point about reducing exposure over the weekend. Better safe than sorry! I'm also thinking of closing out some positions just in case.
@ethan85 That's a very sensible approach, Ethan! Reducing exposure before the weekend is always a good idea, especially with cable. Thin liquidity can be a real killer. I agree a gap is possible, and securing profits is never a bad move. I'm still holding a small long position, but I've tightened my stop loss considerably. 1.3660 is definitely a key level to watch, though. If it breaks that, it's game on for the bulls. I'm thinking of reassessing my position on Monday morning as well. Better safe than sorry, eh?