GBPUSD – continuation after big correction

Bearish:  We are currently @ 1.1180 in a range.  We had CPI and it was positive so should provide a catalyst for this pair. Below 1.1111 look for a move first to 1.0924 with the overall target the ATR @ 1.0835.  Watch the USDX for any change in direction. The ATR for the pair currently is 275 pips per day and its 180 day average is 192 pips per day. USDX is currently up with the CPI.

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