GBP/AUD – rising wedge says down

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GBP/AUD – rising wedge says down

By Pro Act Traders — Author

Bearish: Forex Strategies: Currently we are at 1.9513 at the top of a big range. We have a rising wedge indicating the reversal. IF we can break the wedge (this may be early), we are looking for a continuation to the ATR Target @ 1.9428. There is significant support at the S3 @ 1.9367 - watch that area. Watch the USDX for direction as it could negate all of this. The average daily true range (ATR) for the pair is 95 pips per day and it’s 90 day average is 105 pips per day. My Forex Analysis says USDX is currently trying to go up.

Posted to Introduction to Forex Targe… on Jul 23, 2024 — 9:07 AM

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{[comment.author.username]} {[comment.author.username]} — Marketfy Staff — Maven — Member

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