GBP/AUD: 3rd Wave Could Start Soon
Scott Barkley | Sep 21, 2023 08:47AM ET
GBP/AUD is currently trading at 1.9173 and seems to be moving within a channel, which might indicate the start of a possible 3rd wave. There is a convergence for an upward movement, suggesting a potential bounce and continuation to the ATR Target at 1.9274.
The further target for today is 1.000 Fibo at 1.9291. It's important to keep an eye on the US Dollar Index Futures to determine the direction. The average daily true range (ATR) for the pair is 129 pips per day, and the 90-day average is 145 pips per day. Currently, USDX is trending upwards.
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