GBP/USD channel continuation?

Scott Barkley ProAct Traders

Bullish: Currently we are @ 1.2744 after completing a corrective 2 wave on the channel bottom. We are looking for a continuation initially to the ATR target @ 1.2795 and then continue to the 2.618 Fibo @1.2878z. The average daily true range (ATR) for the pair currently is74 pips but its 180-day ATR is 107 pips a day.

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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