Monday, January 30, 2023

GBP/USD: Downtrend To Continue |


trades in green at the time of this post. We are currently at 1.3732, and in a downwards channel.

We are looking for an initial move towards the average true range (ATR) target at 1.3681 followed by a move down to the 0.500 Fibonacci level in the 1.3662 zone.

Watch the pair for any change in direction. The ATR for the pair is 78 pips per day, and its 180-day average is 82 pips.

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