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GBP/USD Bears Set Sights: Watch USDX for Moves to Key Targets

11/18/2024

Less than a minute

2024.11.18 10:28

Forex Strategies Bearish: We are currently @ 1.2631 in a channel. If USDX breaks up, we are looking for a continuation to the ATR target @ 1.2536 area and then to the S7 @ 1.2450. Convergence is in play for the short. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 108 pips and it’s 90-day average is 84 pips.

GBPUSD – Rectangle Breakout