GBP/USD – moving south

Bearish: We are currently @ 1.2712 after taking out slope support. If we can break through the support here, we are looking for a continuation to the 0.500 Fibo @ 1.2665 with the further target the ATR target @ 1.2627 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 79 pips per day and it’s 90 day average is 91 pips per day. USDX is up.

Posted to Introduction to Forex Targe… on Jan 23, 2024 — 8:01 AM

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