GBP/USD –Can it start the short
Note: Advance GDP this AM
Bearish: We are currently @ 1.2440 in a range and a breakout of slope support. IF we can break this support, we are looking for a continuation to the ATR target @ 1.2384 with a further target the 1.618 Fibo @ 1.2320 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 91 pips per day and it’s 180 day average is 110 pips per day. USDX is currently moving up but most likely in a pullback.