GBP/USD–back in the channel

Bearish: Currently we are at 1.2618 in a channel in a range. We are looking to continue to the ATR target @ 1.2560 with a further 1.618 Fibo target @ 1.2542 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 72 pips per day and it’s 90 day average is 85 pips per day. USDX is trying to go up.

Posted to Introduction to Forex Targe… on Mar 27, 2024 — 8:03 AM

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