GBP/NZD – great range opportunity

Note: NFP tomorrow!

Bearish: We are currently @ 2.0802 in a channel in a range. MACD points the way down. If we can break the 1.270 support we are looking for a continuation to the ATR Target @ 2.0718 with the overall target the range bottom @ 2.0650. This will require that USDX continues up. Watch the USDX for direction. The average daily true range (ATR) for the pair is 202 pips per day and it’s 90 day average is 171 pips per day. USDX is currently moving up.

Posted to Introduction to Forex Targe… on Aug 03, 2023 — 8:08 AM

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