GBP\/USD – Fish the range today

Note: FOMC tomorrow-slows the market down!

Forex Strategies Bearish: We are currently @ 1.3103 in a channel in a range and a flag pattern (bearish). We are looking to come out of the flag and target the confluence of the Day chart bottom/ATR targets/1.618 Fibo @ 1.2997. Watch for a bounce there. The pair should prove it out when the market opens. It’s Daily ATR is 109 pips, and its 90-day average is 78 Pips a day. My Analysis says the USDX is up.

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