@grace1996 on GBPUSD | PriceONN Community
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Good evening all. With the markets closed, I'm considering my strategy for GBPUSD next week. Given the current neutral trend, I'm hesitant to make any significant moves. I think I'll wait for Monday's opening and assess the initial market reaction before committing to a position. A gap up might present a buying opportunity, but I will be cautious.
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Further to my previous comments, I'm also looking at the technical indicators more closely. The RSI at 49 suggests a neutral stance, but I think it could easily swing either way depending on Monday's news flow. I am wondering if the SMAs are acting as significant support or resistance levels. I'm thinking a break above the 50-day SMA at 1.35052 could signal a bullish move, but I'm still not entirely convinced. I'm particularly wary of a false breakout, so I think I'll wait for confirmation before entering any trades. I think I'll also set up some price alerts near key levels just in case of a quick spike.
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Update: I am concerned about the news regarding the US and Israel. Such geopolitical events often lead to increased volatility. I suspect we might see a flight to safe-haven assets, potentially impacting GBPUSD negatively. I may adjust my strategy to account for increased risk and uncertainty.
@grace1996 I agree, Grace. Waiting for the market open on Monday sounds like a smart move. I'm also seeing that neutral trend and don't want to jump in too early and get burned.