GBP/JPY Likes This Channel
Scott Barkley | Aug 24, 2023 08:55AM ET
Based on current trends, the GBP/JPY pair is currently at 184.44 and appears to be in a channel. If we see a break in the slope support, we may see a continuation in the downward trend towards the ATR Target of 183.37, with a further target of the day chart bottom at 182.41. It's important to monitor the USDX for overall direction, as it is currently on the rise. It's worth noting that the average daily true range (ATR) for the pair is 139 pips per day, with a 90-day average of 158 pips per day.
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