GBP/AUD –Breakout Opportunity

Note: Consumer Confidence and Jolts this AM!

Bullish: We are currently @ 1.9621 after a hard bounce. IF we can get the breakout of the slope resistance here , we are looking for a continuation to the ATR Target @ 1.9675 with the further target the 1.618 Fibo @ 1.9710. Watch the USDX for direction. The average daily true range (ATR) for the pair is 129 pips per day and it’s 90 day average is 147 pips per day. USDX is currently moving up.

Posted to Introduction to Forex Targe… on Aug 29, 2023 — 8:08 AM

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