Forex Opinion & Analysis

GBP/AUD: Channel Continuation Likely

Bearish:  We are currently @ 1.9341 in a channel in a range.  We are looking for a continuation to the ATR target @ 1.9280 with the further target  the 0.786 Fibo @ 1.9242 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 106 pips per day and it’s 90 day average is 131 pips per day. USDX is up.GBPAUD – channel continuation

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