Bearish: We are currently @ 1.2652, in a channel to the downside. If we can get a small pullback, we are looking for a continuation to the ATR target @ 1.2606 with the further target the S4/1.000 Fibo @ 1.2550-62 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 92 pips per day and it’s 90 day average is 90 pips per day. USDX is up – if it flips this will be a pullback.
GBP/USD Could Continue in the Channel
