@fmorgan254 on GBPUSD | PriceONN Community
It's been a rough couple of weeks for GBPUSD, really. I was holding a long position expecting some positive news to push it higher, but it just kept sliding. I guess I learned a hard lesson about not just blindly following tips and needing to see more concrete confirmation before entering. The Fed comments about potential hikes are definitely weighing on it.
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And on top of that, the news about the Fed eyeing rate hikes is making me really reconsider my strategy for next week. I was thinking of looking for long opportunities if it stabilized, but now with inflation concerns and potential rate moves, it feels like the trend could just continue downwards. The RSI is also pretty low, which usually means oversold, but with the Fed’s stance changing, that might not hold true this time. I might have to stay on the sidelines until things become clearer, it’s just too uncertain right now.
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@fmorgan254 Hey Freya, totally get what you mean. I've been burnt by trying to catch falling knives before too, and those dollar strength rumors are definitely making me nervous about holding any longs. It's tough when you're expecting a certain outcome from news but the market just does its own thing. I'm also rethinking some of my swing strategies. This whole geopolitical tension stuff really adds another layer of uncertainty, doesn't it? Feels like the dollar is just getting stronger on any hint of trouble, making pairs like GBPUSD tricky.