@aishwaryanair60 on GBPUSD | PriceONN Community
A
This whole Iran war thing is making me nervous about Europe. Is GBPUSD going to be like that EURUSD pair? Feels like everything is linked. If the Euro tanks because of energy prices, wouldn't the Pound do the same? I saw some analyst saying the Fed might not even cut rates this year, which makes USD strong. So if USD is strong and Euro is weak, where does that leave GBP? Is it going to get caught in the middle and just go down? I'm still trying to figure out how these global events actually affect my trades.
Replies
L
Hey @aishwaryanair60, totally get your worry about everything being linked. This geopolitical stuff is making the whole FX market act like one big correlated mess. But honestly, I don't think GBPUSD will tank just because of Europe's energy prices. The Pound has its own story. Friday's close was weak, yeah, but it didn't completely capitulate like some other pairs. We'll see what the market decides on Monday, but I'm not convinced it's a done deal for the downside just yet. They always try to scare you before a move.
N
Hey @ebell899, good point about the RSI on the hourly. I tend to focus on H4 for my scalps, and the RSI there is sitting around 41, which is pretty much flat. The 50 SMA is also holding just above price at 1.33438, acting as a bit of resistance. I’m not seeing a clear directional bias for GBPUSD right now, just chop. Will wait for price to break out of this 1.33-1.34 range.
Yo @aishwaryanair60, I feel you on the linked currency vibes, but this GBPUSD is a whole different beast today. Forget the Euro drama for a sec, this pound is actually looking kinda strong despite the news. I'm thinking of going full margin long here, let's see if we can ride this wave up. 🚀 #YOLO