Forex analytics and overview
GBP/USD – Range Breakout Ahead?
2024.10.17 10:23
currently sitting at 1.2993, having just emerged from a range. If we see a clean breakdown, the initial target is the ATR level at 1.2910. Beyond that, we’re eyeing the 1.000 Fibonacci level at 1.2838; keep an eye on how the pair reacts there. This should become clearer once the market opens.
The Daily ATR stands at 82 pips, with a 90-day average of 77 pips per day, indicating solid volatility. According to my analysis, the USDX is trending upwards, which could influence this bearish outlook. As always, monitor these levels closely and be prepared for market shifts as trading begins.
