GBP/USD – triangle break

Jun 08, 2023

Note: unemployment claims was negative

Bearish:  We are currently @ 139.42 in the channel.   IF we can break the triangle here, we are looking for a continuation to the 1.000 Fibo/ATR target @ 138.78 with the overall target the 1.270 Fibo @ 138.45.  Watch the USDX for direction. The average daily true range (ATR) for the pair is 121 pips per day and it’s 180 day average is 160 pips per day. USDX is currently moving down.