These could be the 5 biggest pain trades in the second half, HSBC says
Forex Strategy is Bearish: GBP/JPY is currently at 190.99 after a 5-wave move up. We are looking for a break of slope support and then continuation to the ATR target at the 189.82 area. Further targets are the 188.81 and 186.86. USDX is currently down. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 154 pips per day, and its 90-day average is 202 pips per day.
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