GBP/USD-Breakout opportunity

Bullish: Currently we are at 1.2782 in a triangle in a range. We are looking to continue to the ATR target@ 1.2831 area with an outside target at the 1.618 Fibo @ 1.2835 area. This requires that the USDX start down so Watch the USDX for direction. The average daily true range (ATR) for the pair is 64 pips per day and it’s 90 day average is 74 pips per day. USDX is currently threatening down.

Posted to Introduction to Forex Targe… on Jun 05, 2024 — 8:06 AM

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