GBP/NZD – Working a nice channel

Bearish: We are currently @ 2.0764 just above support. If we can break through the support here, we are looking for a continuation to the ATR target @ 2.0700 with the further target the 2.618 Fibo @ 2.0654 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 141 pips per day and it’s 90 day average is 145 pips per day. USDX is up.

Posted to Introduction to Forex Targe… on Jan 29, 2024 — 8:01 AM
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