GBP/USD – Takes The Bounce

Bullish: We are currently @ 1.2091 after the pullback in a range and a channel. IF we can break resistance here, we are looking for continuation to the 1.000 Fibo/ATR target @ 1.2224 area. We have convergence in play for the move. Watch the USDX for direction. The average daily true range (ATR) for the pair is 125 pips and it’s 180 day average is 136 pips per day. USDX is currently moving down.