GBP/AUD – Testing the channel

Bearish: We are currently @ 1.9285 just above slope support. If we can break through the support here, we are looking for a continuation to the 0.270 Fibo/ATR target @ 1.9227 with the further target the 1/618 Fibo/S4 @ 1.9188 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 123 pips per day and it’s 90 day average is 135 pips per day. USDX is down.

Posted to Introduction to Forex Targe… on Jan 24, 2024 — 8:01 AM

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