GBP/USD Could Head Lower
Scott Barkley | Nov 29, 2021 08:51AM ET
The GBP/USD pair is currently going up but appears to be a C wave at the time of this post.
We are currently at 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 at 1.3263 with the S6/day bottom at 1.3207-24 as the goal.
Watch the DXY 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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