@chloe9248 on GBPUSD | PriceONN Community

Update: Moving my stop loss down to 1.3450. Locking in a small profit in case of a reversal. The pair is hovering just above S1, so watching closely for a potential bounce.

Hello @chloe9248, I noticed your short position and wanted to get your perspective on the 200 SMA. It's currently sitting around 1.34303, which is a fair distance above your entry. Do you anticipate that resistance level holding, or are you expecting a potential retest before the price continues downward towards your target? I'm curious about your risk management strategy, particularly given the proximity of your stop loss to the pivot point. It seems like a tight stop, but perhaps you're relying on the momentum to sustain the move. Just trying to understand the rationale behind your setup.