GBP/USD is currently at 1.2188 after a channel wall bounce. We are looking for a continuation toward the ATR target at the 1.2323 area and then the 0.618 Fibonacci level at the 1.2352 area.
Watch the DXY for any change in direction. The ATR for the pair currently is 141 pips per day and its 180-day average is 133 pips per day. DXY is currently also possibly topping out at the time of this post.
