GBP/AUD Looks To Move Lower
Scott Barkley | Jan 18, 2022 08:52AM ET
GBP/AUD is currently going up at the time of this post. We are now at 1.8913 and have convergence in play.
We are looking for an initial move to the average true range target near the 1.8900 area with a continuation to the 0.618 Fibonacci level at 1.8777.
Watch the DXY for any change in direction. The ATR for the pair currently is 104 pips per day, and its 180-day average is 114 pips per day.
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