GBP/USD: Continuation Likely After A Big Correction
Scott Barkley | Oct 13, 2022 08:48AM ET
Bearish: GBP/USD is currently at 1.1180 and in a range. We had CPI, and it was positive, so it should provide a catalyst for this pair. Below 1.1111, look for a move first to 1.0924 with the overall target of the ATR at 1.0835.
Watch the USDX for any change in direction. The ATR for the pair currently is 275 pips per day, and its 180-day average is 192 pips per day. USDX is currently up with the CPI.
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