FX:GBPUSD   British Pound / U.S. Dollar
96 1 4
Talking Points
• The GBP/USD             is trading inside yesterday’s price action
• Traders may monitor support & resistance for a breakout
• Daily ATR currently reads at 96 pips


The GBP/USD             has continued to consolidate this morning, as traders anticipate a quiet close going into tomorrow’s Thanksgiving holiday. So far the pair continues to range between yesterday’s daily high found at 1.5155 and low at a price of 1.5053. This means if prices fail to break out, and price action closes inside of these values, traders can begin planning for breakout opportunities for the pair. Using the previous daily candle as a reference, traders can plan for a bullish breakout above the high at 1.5155. Conversely, a move below support at 1.5053 would suggest a continued bearish bias for the pair. It should be noted that the GBP/USD             has traded lower over the last three trading sessions, and a breakout lower could be the catalyst for a future trend continuation.

Traders looking to set targets for an inside bar breakout, can use ATR ( Average True Range ) to gauge potential market volatility . Currently daily ATR for the GBP/USD             reads at .0096 or 96 pips. This places initial bullish targets near 1.5251 using a 1x extension of this value. Alternatively, a breakout below support would open up the pair to a potential 1x target of 1.4957.

In the event that prices fail to breakout, traders may look for continued consolidation from the GBP/USD             . Traders may continue to watch for range based trading opportunities as long as prices remain inside of the reference bars high and low.
My take: https://moorekapital-gmail.tinytake.com/sf/Mzk0MjA1XzIxOTcxMTc
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out