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GBP/AUD: 2 Good Options

GBP/AUD: 2 Good Options


GBP/AUD is currently at 1.7973 in a channel and a range. This gives us two possible scenarios:

1. Bullish

A move to the channel line at the 1.7990 area and break out, which we’ll look to the ATR target at 1.8034. 

2: Bearish

A break down here (we are at a significant resistance) would set up a move to the ATR target at 1.7783. Watch the USDX for any change in direction. The ATR for the pair currently is 122 pips per day.

GBP/AUD – 2 good options

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