Bearish: We are currently @ 1.2794 in a channel in a range. We are starting a third wave and looking to continue the channel to the ATR target @ 1.2750 with a further 0.618 Fibo target @ 1.2719 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 64 pips per day and it’s 90 day average is 84 pips per day. USDX is hinting up.
GBP/USD: Starts New Wave
