GBP/AUD – still room to the bottom

Note: CB Consumer Confidence is the AM!

Bearish: We are currently @ 1.8993 in a channel. We have convergence for the downside move. We are looking for a continuation to the ATR Target @ 1.8900 with the further target for today the 1.000 Fibo @1.8863. Watch the USDX for direction. The average daily true range (ATR) for the pair is 122 pips per day and it’s 90 day average is 131 pips per day. USDX is currently moving sideways.

Posted to Introduction to Forex Targe… on Sep 26, 2023 — 8:09 AM

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