@jAnderson98 on GBPUSD | PriceONN Community
Just opened a long on GBPUSD around 1.3366. Seeing a bit of a bounce off that 50 SMA on the H4 chart. Targeting the 1.3400 level initially. Let's see if this dollar strength narrative fades a bit.
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Actually, I'm moving my SL down to break-even now at 1.3366. Seeing some resistance forming near the 1.3370s, and that geopolitical news about the Middle East might add some USD bid if things heat up again. Gotta protect the capital.
Hey @jAnderson98, interesting to see you're already at break-even. I've been watching this pair myself this morning and I'm a bit cautious. That geopolitical news you mentioned is definitely adding a layer of uncertainty, and I agree the dollar could get a bid if tensions escalate further in the Middle East. I'm not sure if we've seen the last of the downside for GBPUSD yet. The fact that it's struggling to hold above 1.34, especially with the potential for inflation worries out of Australia affecting sentiment, makes me think that 1.3400 might be a tough target to reach right now. I might wait to see how the NY session opens before committing to a direction.