GBP/AUD –maybe a 3rd wave starting

Note: FOMC was considered positive!

Bullish: We are currently @ 1.9173 in the start of a channel and a possible 3rd wave. We have convergence for the upside move. We are looking for a bounce here and a continuation to the ATR Target @ 1.9274 with the further target for today the 1.000 Fibo @1.9291. Watch the USDX for direction. The average daily true range (ATR) for the pair is 129 pips per day and it’s 90 day average is 145 pips per day. USDX is currently moving up.

Posted to Introduction to Forex Targe… on Sep 21, 2023 — 8:09 AM
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