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Scott Barkley

GBPUSD continuation

Waiting:  USDX is currently going up but appears to be a C wave at the time of this post.  We are currently @ 1.3329 in a channel.  We may be putting an ABC in place to hit the channel and then down.  The other alternative is to start now with the current pullback, so we are looking for an initial move to the ATR target @ 1.3263 with the S6/Day bottom @ 1.3207-24 as the goal.  Watch the USDX for any change in direction. The ATR for the pair currently is 82 pips per day and its 180 day average is 82 pips.

 

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