@kokorie603 on GBPUSD | PriceONN Community
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That news about oil spiking to $100 is definitely something to consider. Could impact GBPUSD if it leads to broader stagflation fears, as mentioned. I'm going to adjust my risk management accordingly, perhaps tighten my stops a bit. Need to keep a close eye on how the market reacts to this over the next few hours.
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And another thing, I'm noticing that the RSI is still in overbought territory at 69. That combined with the oil news makes me think a pullback is more likely than a continuation of the current bullish trend. I'm not ready to go short just yet, but I'm definitely not adding to my long position right now. I will wait for some confirmation before making any big moves. Maybe a break below 1.3430 would be a good signal to consider shorting. Going to bed now, hopefully no crazy moves overnight. Need some rest.
@kokorie603 I agree that the oil news adds a layer of complexity. Tightening stops is a prudent move. The overbought RSI on top of that definitely warrants caution. I might consider reducing position size as well.