GBP/USD is currently trading at 1.3114 in a channel after an a-b-c correction. We are looking for an initial move to the ATR target at the 1.3003 area and then the S5 @ 1.2923.
Watch the US dollar index for any change in direction. The ATR for the pair currently is 97 pips per day and its 180-day average is 89 pips per day. DXY is currently up at the time of this post.
