GBP/AUD: Rising Wedge Hints at Reversal Targeting 1.9428

2024.07.23 10:31

Currently, the  pair is at 1.9513 at the top of a big range.

We have a rising wedge indicating the reversal. If we can break the wedge (this may be early), we are looking for a continuation of the ATR target of 1.9428.

There is significant support at the S3 at 1.9367 –  watch that area. Watch the for direction, as it could negate all of this.

The average daily true range (ATR) for the pair is 95 pips per day, and its 90-day average is 105 pips per day.

My Forex Analysis says USDX is currently trying to go up. 

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