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GBP/AUD: Channel Continuation Likely

01/04/2024

Less than a minute

2024.01.04 09:26

Scott Barkley

Bullish: We are currently @ 1.8888 in a nice channel and a possible 5th wave. If we can break here, we are looking for a continuation to the ATR target @ 1.8973 with the further target the 0.618 Fibo @ 1.9023 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 124 pips per day and it’s 90 day average is 1221 pips per day. USDX is threatening up.

GBPAUD – channel continuation