Bullish: GBP/USD is currently at 1.1997 in a channel in a range. We are looking for a continuation to the ATR target at 1.2116 with a further target the 1.618 Fibo at the 1.2143 area.
We have the start of convergence on the hourly. The target down is 1.1939 if it reverses. Watch the USDX for any change in direction. The ATR for the pair currently is 164 pips per day, and its 180-day average is 152 pips per day. USDX is currently down.
