GBP/USD –Triangle opportunity down

Note: Unemployment claims was negative

Bearish:  We are currently @ 1.2442 in a range and a triangle.   IF we can break this support, we are looking for a continuation to the ATR target @ 1.2348 with a further target the 1.000 Fibo @ 1.2281 area.  Watch the USDX for direction. The average daily true range (ATR) for the pair is 96 pips per day and it’s 180 day average is 113  pips per day. USDX is currently moving up but mostly sideways.