GBP/AUD-Starts a 3rd wave

Note: FOMC today

Bearish: Currently we are at 1.9252 in a channel. We have convergence and are looking to continue a new 3rd wave the ATR target @ 1.9165 with a further target the range bottom @ 1.9100 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 125 pips per day and it’s 90 day average is 114 pips per day. USDX is currently down.

Posted to Introduction to Forex Targe… on May 01, 2024 — 8:05 AM

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