GBP/USD: Downward Channel Looks To Continue

2022.05.10 16:26

Bearish

GBP/USD is currently at 1.2328, trading in a downward channel. We are looking for a continuation to the ATR target of 1.2183.

Watch the USDX for any change in direction. The ATR for the pair currently is 151 pips per day and its 180 day average is 127 pips per day.

USDX is currently UP at the time of this post.

GBP/USD Daily Chart

Source