Forex Opinion & Analysis

GBP/USD Bullish Setup: 1.2550 in Sight, With Resistance at 1.2710

Forex Strategy is Bullish: We are currently @ 1.2508 in a channel. If we can bounce here, we are looking for a continuation to the ATR target @ 1.2550 area, with a big area above the R6 @ 1.2710.  Watch the USDX for directions. The average daily true range (ATR) for the pair currently is 121 pips per day and its 90-day average is 97 pips per day.

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