GBP/NZD: Falling Wedge Continuation Likely
Scott Barkley | Sep 13, 2023 08:51AM ET
GBP/NZD is currently trading at 1.9475 within a channel. We have observed convergence for the upside move and anticipate a continuation towards the ATR Target at 1.9580, with the further target for today being the 1.618 Fibo at 1.9620. It is advisable to keep an eye on the USDX for direction. The average daily true range (ATR) for the pair is currently 145 pips per day, while its 90-day average is 165 pips per day. The USDX is currently moving up, indicating an upward trend.
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