GBPUSD bear flag

Scott Barkley ProAct Traders

Currently we are @ 1.3862 and starting a push to the downside. IF we breakout of the bear flag we are initially looking for a continuation to the 0.500 @ 1.3702 and a possible bounce there. This is also the lower channel from a day chart up move. The average daily true range (ATR) for the pair currently is 176 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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