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GBP/USD Set to Start New Trading Channel

12/18/2023

Less than a minute

2023.12.18 11:14

Scott Barkley

Bearish: We are currently @ `1.2657 in a new channel, in a range. We are looking for a continuation to the ATR target @ 1.2604 with the further target the 1.000 Fibo @ 1.2582 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 97 pips per day and it’s 90 day average is 92 pips per day. USDX is threatening more to the upside.

GBPUSD – new channel starting