GBP/USD – Range breakout

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GBP/USD – Range breakout

By Pro Act Traders — Author

Note: Unemployment claims and CPI were positive

Bearish: We are currently @ 1.2730 in a range. If we can get a small pullback, we are looking for a continuation to the ATR target @ 1.2694 with the further target the 0.214 Fibo @ 1.2657 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 91 pips per day and it’s 90 day average is 92 pips per day. USDX is up.

Posted to Introduction to Forex Targe… on Jan 11, 2024 — 8:01 AM

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{[comment.author.username]} {[comment.author.username]} — Marketfy Staff — Maven — Member

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