GBP/USD Breaks Below Support
Scott Barkley | Jul 06, 2022 08:45AM ET
GBP/USD is currently at 1.8885 in a channel. We have convergence to the downside. We broke below the support, so we are looking for a continuation to the ATR target at the 1.1800 area and then the 1.270 Fibo at the 1.1731 area.
Watch the DXY for any change in direction. The ATR for the pair currently is 143 pips per day and its 180-day average is 125 pips per day. DXY is currently up at the time of this post.
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