GBPUSD short Opportunity

Bearish:  USDX is bullish at the time of this post but near a top.  We are currently @ 1.3592 in a range inside a Day chart Down Trend.  We are looking for an initial move to the range bottom @ 1.3569 and then IF we break, down to the ATR Target @ 1.3487-94 area.  Be aware that with USDX up this could be a reversal point back to support @ 1.8588.  Watch the USDX for any change in direction. The ATR for the pair currently is 102 pips per day and its 180 day average is 90 pips.

 

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