GBPUSD – CPI opportunity

Note: CPI was neutral USDX negative initially

Bullish: We are currently @ 1.2175 in the start of a run after a resistance breakout.  We are looking for a move here to continue to the ATR target @ 1.2279 area with a further target @ 1.2318. Watch the USDX for direction. The average daily true range (ATR) for the pair is 127 pips and it’s 180 day average is 153 pips per day. USDX is currently threatening down.