GBPUSD reversal trade

Bearish: We are currently @ 1.4102 in a channel and in a reversal. CPI numbers very positive should act as a catalyst. We are looking for an initial move to the ATR Target @ 1.4053 area. A further target is the 0.382 Fibo @ 1.4022. Watch the USDX for any change in direction. The ATR for the pair currently is 94 pips per day.

Posted to Introduction to Forex Targe… on May 12, 2021 — 8:05 AM
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