Strategic Forex Positioning: Navigating GBP/USD and DXY Dynamics

After hastily closing my short position on GBP/USD, perhaps a bit prematurely, primarily due to DXY showing signs of waning upward momentum and a probable deeper retracement looming (I anticipate this after reaching the 106-106.5 zone), I've made the deliberate choice for GBP to stage a potential rebound. This area seems opportune to unwind late short positions. Let's monitor its performance; the stop loss is set generously at a risk-reward ratio, given DXY still has room to maneuver, and I prefer not to over-analyze my position when the direction appears reasonably clear

Trade closed: target reached:

Closed here!