GBP/USD-Range top reversal

Note: Unemployment claims was neutral today

Bearish: Currently we are at 1.2695 after hitting the Range Top. We are looking to reverse here ( it may need one more push to the top) and continue to the ATR target @ 1.2632 and then the S2/0.786 Fibo @ 1.2610 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 75 pips per day and it’s 90 day average is 77 pips per day. USDX is currently up.

Posted to Introduction to Forex Targe… on May 20, 2024 — 8:05 AM
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