GBP/USD –heads up again

Sep 19, 2023

Bullish: We are currently @ 1.2407 just out of a falling wedge in a range. We have convergence for the upside move. If we can break this resistance here, we are looking for a continuation to the ATR Target @ 1.2455 with the further target for today the 0.386 Fibo @1.2478. Watch the USDX for direction. The average daily true range (ATR) for the pair is 85 pips per day and it’s 90 day average is 95 pips per day. USDX is currently moving down.