GBP/USD –Can it start the short

Apr 27, 2023

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.