Bullish: GBP/USD is currently at 1.2175 at the start of a run after a resistance breakout. We are looking for a move here to continue to the ATR target at the 1.2279 area with a further target of 1.2318.
Watch the USDX for directions. The average daily true range (ATR) for the pair is 127 pips, and its 180-day average is 153 pips per day. USDX is currently threatening down.
