Forex Opinion & Analysis

GBP/USD: One Last Move Up in the Offing

GBP/USD is at 1.2470 in a channel. We are looking for a continuation to the ATR target at 1.2500  with the further target for today the day chart top @ 1.2587 area. We have divergence in play so this may be the last move.  Watch the USDX for direction. The average daily true range (ATR) for the pair is 100 pips per day and it’s 90 day average is 95 pips per day. USDX is currently threatening a move down.  

GBPUSD – one last move

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