Key Moments
- GBP/USD is trading near 1.3490 within a defined price channel under a bearish strategy setup.
- Traders are monitoring a move toward an ATR-based intraday target around 1.3417, with a deeper Fibonacci objective near 1.3372.
- The pair’s current average daily true range is 73 pips, compared with a 90-day average of 72 pips, as USDX is described as “threatening up.”
Bearish Technical Setup in Focus
GBP/USD is quoted around 1.3490 and is trading within a channel where the prevailing strategy is bearish. The outlook is for the decline to extend toward an Average True Range (ATR) target in the 1.3417 area. A further downside objective for the session is identified at the 1.270 Fibonacci level around 1.3372.
The analysis notes convergence on the hourly time frame, supporting the downside view. Market participants are also monitoring the U.S. Dollar Index (USDX), which is described as currently “threatening up.” The guidance is to watch the USDX for directional cues for GBP/USD.
Volatility Metrics and Trading Levels
The pair’s current intraday volatility, measured by the average daily true range, stands at 73 pips per day. This is slightly above its 90-day average daily true range of 72 pips per day, suggesting that current price swings are broadly in line with recent historical norms.
| Metric | Level / Value |
|---|---|
| Current GBP/USD level | 1.3490 |
| ATR-based target | 1.3417 area |
| 1.270 Fibonacci target | 1.3372 area |
| Current ATR (daily) | 73 pips |
| 90-day average ATR (daily) | 72 pips |
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