Scott Barkley
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Scott Barkley in Proact Traders,

$GBPJPY- channel

Currently we are 131.75 and in a nice channel to the upside. Above 132.20 we are looking for a continuation to the 1.270 Fibo @ 133.44 and then a correction before resumption to the larger 0.382 Fibo @134.33.  The average daily true range (ATR) for the pair currently is 155 pips.