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GBP/AUD: Bounce Presents Long Opportunity

12/19/2023

Less than a minute

2023.12.19 09:57

Scott Barkley

Bullish: We are currently @ 1.8901 bouncing off the bottom, in a range. If we can break 1.8900, we are looking for a continuation to the ATR target @ 1.9022 with the further target the 0.500 Fibo @ 1.9055 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 160 pips per day and it’s 90 day average is 137 pips per day. USDX is threatening more to the downside.

GBPAUD – bounce opportunity