GBP/USD After FOMC Opportunity

Scott Barkley ProAct Traders

Currently we are @ 1.3033 as the pair positions itself prior to FOMC. Two scenarios: Bullish: a bounce will target the 1.3150 area based on its ATR. 2: Bearish: A breakout here would set up a nice move to the support/psychological number @ 1.2900 area. The average daily true range (ATR) for the pair currently is 88 pips.

Author

Scott Barkley

ProAct Traders

Scott Barkley is the President of ProAct Traders LLC located in Round Rock, Texas. Scott graduated from the institute For Latin American Studies in Cuernavaca, Mexico.

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