GBP/USD – Channel continuation
Bearish: We are currently @ 1.2373 in a channel. We are looking for a short pullback and then a continuation to the ATR target @ 1.2323 with a further target at the S4 @ 1.2292. We have convergence in play for the move. Watch the USDX for direction. The average daily true range (ATR) for the pair is 95 pips per day and it’s 180 day average is 116 pips per day. USDX is currently moving UP.