GBP/USD: Continuation on the Cards

2023.08.02 10:18

is currently at 1.2733 after a correction of the last move in a channel. MACD points the way down. If we can break support, we are looking for a continuation to the ATR target at 1.2671 with the overall target the 1.618 Fibo @ 1.2643. This will require that USDX continues up. Watch the USDX for directions. The average daily true range (ATR) for the pair is 108 pips per day, and its 90 day average is 95 pips per day. USDX is currently moving up.

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