GBP/AUD–Out of the pennant

Note: CB Consumer Confidence this AM

Bearish: Currently we are at 1.9312 out o the pennant in a range. We are looking to continue to the ATR target @ 1.9219 with a further 1.618 Fibo target @ 1.9182 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 107 pips per day and it’s 90 day average is 122 pips per day. USDX is trying to go down.

Posted to Introduction to Forex Targe… on Mar 26, 2024 — 8:03 AM

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