GBP/AUD – Will it breakout

Note: FED Chair Powell speaks today

Bearish: Forex Strategies: Currently we are at 1.8990 in a 5th wave in a channel. IF we can break the slope support, we are looking for a continuation to the ATR Target @ 1.8319. There is a 1.000 Fibo @ 1.8886. We should see a reaction there. Watch the USDX for direction and the Fundie could negate all of this. The average daily true range (ATR) for the pair is 94 pips per day and it’s 90 day average is 104 pips per day. My Forex Analysis says USDX is currently down

Posted to Introduction to Forex Targe… on Jul 10, 2024 — 8:07 AM

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